__________ defines the major actions by which an organization builds and strengthens its competitive position in the marketplace.

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Business strategy is concerned with the major actions a company takes to establish and improve its competitive position in the market. It involves identifying target customers, creating a unique value proposition, and designing a plan to differentiate the company's products or services from those of its rivals. Corporate strategy, on the other hand, focuses on the overall direction of the company, including decisions about which businesses to enter or exit. Functional strategy deals with the specific activities and processes within each department or function of the organization. The BCG matrix plan is a tool used to evaluate the company's portfolio of businesses based on growth potential and market share, while situation analysis involves assessing the internal and external factors that affect the company's performance.

__________ Defines the Major Actions by Which an Organization Builds