What is
What are
Functional Strategy
?
A Functional Strategy is a specific plan of action aimed at achieving objectives within a specific business unit or department (e.g., finance, operations, marketing, HR, etc.). Functional strategies operate a level below corporate strategies focusing on the specific activities each department employs to effectively contribute to an organization’s broader strategic objectives.
Why is it important?
Why are they important?
Functional Strategies are important because they are tailored to the unique processes, technologies, and skills of each functional area; because they are integrated with other functional strategies and leverage their shared synergies, and because they ensure a collective operational excellence for an organization.
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