What is Business Level Strategy? And Its Types

Business-level strategy is the strategic planning for a business to create an organization to create value for its customers. It is a new way to help the company act as a whole unit to reveal its unique assets and increase competitiveness. The ultimate goal of business-level strategy is to achieve sustainable competitive advantage and win through plan execution.A cost leadership strategy is to focus on a broader market. The company continuously strives for cost reduction in many areas. To gain cost efficiency, the company pursues more forward and horizontal integration. All businesses compete on price. A lower-priced product will attract more and more customers, but it will absolutely affect profitability. The company can follow some ways to reduce its cost:This type of strategy is usually used by the company to produce product and service that meets the needs of small groups. It relies on the segmentation of the industry. This strategy is used in small and medium-sized companies.