Functional Level Strategy
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After discussing the Business Level Strategy, a directional structure is already been made for Pran based on the corporate level strategy ‘Big Target Market’. In business level strategy an overall strategy is proposed which will only be achieved by dividing works between different departments’ ex. Finance, Marketing, Human Resource Management, Research & Development and Production. In functional level strategy there will be a short description of each department work strategy to achieve corporate level strategy in the long run. Finance: Obviously one of the most important departments to consider while planning achieving the goal that Pran has is the finance department. Where the money/capital is being used, how much will be returned, how much the profit can be and how much to spend in which place in what time is all answered and prepared by the finance department. For achieving the business level strategy and ultimately the corporate level strategy, Finance will play one of the most vital roles. Marketing: In today’s business world, nothing works without promotion.
And to plan the promotion out marketing department is always working on that. How to get the consumer’s attention towards the product and how to inspire them to buy the product is the main concerning factor of the marketing department. Because if people doesn’t know or not aware about Pran’s new products they may never going to buy and try that. Human Resource Management: If there is something common in collecting raw material to planning the whole business out and that is human. Though most of the operations are now done by using technologies and machine, one can never replace the importance of human work. And to ensure that other departments are working according to the plan, Human resource management works hard. It is all about putting the right man to the right job and most of the work is done. Research & Development: R&D department works continuously to keep up with the change that is happening in the environment, in consumer’s way of thinking about a product and developing a new product.
When there is a new need of new product or improving an already existing product, R&D department always have to be ready with the answer. The more efficient R&D department in their work, the more competitive advantage Pran will have because it is always updated about the latest news about the company and the consumer. Production: All the hard work of other departments will go in vain if the production department fails to produce the products as planned to achieve the corporate level strategy. For Pran the production is very important because they are a FMCG company. So in Production level, the strategies will be to ensure producing quality products in the time given to them. To check the machineries on a regular basis and to keep check on the raw materials and other important things comes in the production level work area.
Based on these analysis we are suggesting these plans to achieve the corporate level strategy.