BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A grand strategy states the means that will be used to achieve long-term objectives. Examples of business grand strategies that can be customized for a specific firm include: market concentration, market development, product development, innovation, horizontal integration, divestiture, and liquidation.

Detailed explanation-2: -What is a Stability Strategy? As the name implies, a stability business strategy seeks to maintain operations and market size and position. This strategy is characteristic of small risk-averse firms or firms operating in a very precarious market that is comfortable with its current position.

Detailed explanation-3: -Stability strategy is a strategy in which the organization retains its present strategy at the corporate level and continues focusing on its present products and markets. The firm stays with its current business and product markets; maintains the existing level of effort; and is satisfied with incremental growth.

Detailed explanation-4: -Grand strategies can include market growth, product development, stability, turnaround and liquidation.

Detailed explanation-5: -The three grand strategies are growth, stability, and defensive, and a firm chooses one of these approaches in addition to their choice of business-level, corporate, and/or international strategies.