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Submitted by Pimptopian on May 30, 2006
Category: Miscellaneous
Words: 518 | Pages: 3
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Growth and Functional Strategy
Salty's on the Columbia's mission is "A legendary, unbridled passion for perfection"(Salty's. com). Their functional strategy directly correlates to Salty's mission and "corporate vision", and is the most influential statement in regards to how Salty's makes decisions in all areas of business growth.
Functional Strategy
A functional strategy is "the approach taken by a functional area to achieve corporate and business unit objectives and strategies by maximizing resource productivity
concerned with developing and nurturing a distinctive competence"(Hunger, Wheelen 13). Salty's functional strategy is to develop a "distinctive competency" in the area of product and service. It is their main objective to become number one in areas such as location, service, food, and wine. Salty's is recognized all over the country as having the highest quality seafood, Sunday brunch, views and wine list (Salty's. com). It is the number one goal of Salty's to be recognized for being the best in all categories of quality (Salty's. com).
Growth Strategy
"The most widely pursued corporate directional strategies are those designed to achieve growth in sales, assets, profits, or some combination"(Hunger, Wheelen 138). Salty's is no exception to this pursuit. Knowing that functional strategy and growth strategy are entwined, as well as Salty's mission which relates to its functional strategy, it is apparent that a strategy for growth must be in relevance to its function strategy and mission (Hunger, Wheelen).
The strategy for growth that would make the most sense in relevance to the other encompassing strategies would be a "horizontal growth strategy" and a "strategic alliance" strategy. These two strategies would compliment the current "functional strategy" of Salty's while taking advantage of a tremendous opportunity to grow.
"Horizontal growth can be achieved by expanding the firm's...
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