{"id":1060,"date":"2022-04-20T12:25:00","date_gmt":"2022-04-20T10:25:00","guid":{"rendered":"https:\/\/support.centreforelites.com\/types-of-strategies-in-business-management\/"},"modified":"2023-04-14T10:10:11","modified_gmt":"2023-04-14T08:10:11","slug":"types-of-strategies-in-business-management","status":"publish","type":"post","link":"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/","title":{"rendered":"6 Types of Strategies in Business Management"},"content":{"rendered":"\n<p>This article talks about the different types of strategy in business management that are in use in various organisations for different organisational challenges and to address specific issues. Such challenges and issues border on <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a>, market share, <a href=\"https:\/\/support.centreforelites.com\/en\/new-product-development\/\">product development<\/a> and diversification. Great and difficult challenges such as liquidation, divestiture, retrenchment and joint venture strategies could be applied in critical conditions.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><a href=\"https:\/\/i0.wp.com\/commercemates.com\/wp-content\/uploads\/2021\/02\/Types-of-Strategy.jpg?ssl=1\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/commercemates.com\/wp-content\/uploads\/2021\/02\/Types-of-Strategy.jpg?ssl=1\" alt=\"Types of Strategy\"\/><\/a><figcaption class=\"wp-element-caption\">Types of Strategy<\/figcaption><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d9214dc7c25\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d9214dc7c25\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Types_of_Strategies_in_Business_Management\" >\u00a0\u00a0Types of Strategies in Business Management<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Corporate_Strategies\" >\u00a0Corporate Strategies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Business_Strategy\" >&nbsp;Business Strategy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Functional_Strategy\" >&nbsp;Functional Strategy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Alternative_Strategic_Directions\" >Alternative Strategic Directions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Do_Nothing\" >Do Nothing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Withdrawal\" >Withdrawal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Consolidation\" >Consolidation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Integration_Strategies\" >Integration Strategies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Forward_Integration\" >Forward Integration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Backward_Integration\" >Backward Integration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Horizontal_Integration\" >Horizontal Integration<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Intensive_Strategies\" >Intensive Strategies<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Market_Penetration\" >&nbsp;Market Penetration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Market_Development\" >&nbsp;Market Development<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Diversification_Strategies\" >&nbsp;Diversification Strategies<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Concentric_Diversification\" >Concentric Diversification<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Horizontal_Diversification\" >&nbsp;Horizontal Diversification<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Defensive_Strategies\" >Defensive Strategies<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Joint_Ventures\" >&nbsp;Joint Ventures<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Retrenchment\" >&nbsp;&nbsp;Retrenchment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Divestiture\" >Divestiture<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Liquidation\" >Liquidation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Combination_of_Strategies\" >Combination of Strategies<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Requirements_for_Developing_Effective_Strategies\" >Requirements for Developing Effective Strategies<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_A_Routine_Method\" >&nbsp;A Routine Method<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Creativity\" >Creativity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Brainstorming\" >Brainstorming<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Consultant_Services\" >&nbsp;Consultant Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Holistic_Approach\" >&nbsp;Holistic Approach<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Tactical_Approach\" >Tactical Approach<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#Informed_Employees\" >Informed Employees<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/support.centreforelites.com\/en\/types-of-strategies-in-business-management\/#_Global_Factors\" >&nbsp;&nbsp;Global Factors<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Types_of_Strategies_in_Business_Management\"><\/span>\u00a0\u00a0Types of Strategies in Business Management<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/motivemeaning.com\/introduction-to-strategic-management\/\">Strategic management<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.blogger.com\/blog\/post\/edit\/7193241829689759114\/2320834433725238687#\">strategy formulation<\/a>&nbsp;apply to every organisation. In a large organization, there may be a number of interdependent areas of strategy. This is conveniently defined as corporate strategy for the entire corporate group. It is called business strategy for the unit of the group, usually referred to as strategic&nbsp;business unit (SBU) and a functional strategy for each part of the single business unit. All these levels must be consistent with one another in order for the entire organisation to be successful.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Corporate_Strategies\"><\/span>\u00a0Corporate Strategies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It is the sense of directions for the entire organisation. It identifies the businesses the organisation will engage in and those that it will not. At this level, objectives are globally defined as well as the general orientation for the organisation. The objectives are usually <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a>, stability or defense (retrenchment). Corporate strategy usually provides answers to the question \u201cwhat business (es) are we in?\u201d It reflects the business strategy and in turn, influences the business&nbsp;strategy, particularly the extent of outsourcing, diversification, scale and scope.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Business_Strategy\"><\/span>&nbsp;Business Strategy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Business strategy deals with a single SBU, how it copes with the industry environment and successfully contributes to the corporate strategy. Business strategy by definition should have a definable and identifiable product range, market segment and competitor set. Porter (1985) suggests that business strategy is either cost leadership or differentiation of products and may encompass an entire market or be focused upon a particular segment of it. Each SBU has its business strategy.<\/p>\n\n\n\n<p>The business strategy is the business intent, i.e. the way in which the business wishes to proceed. Many business organisations go too far into the future analysis of their business. They run into problems because the future is not known with that kind of certainty. Therefore, what is needed by the organisation is the broad direction and not details of how to get there. The necessary details are fashioned out by the functional strategies and sub-strategies developed over time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Functional_Strategy\"><\/span>&nbsp;Functional Strategy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>There are usually a set of functional strategies for each SBU. Each will aim to make the best use of the resources available in order to contribute to business strategy so as to improve performance, functional strategy, harness activities, skill and the available resources.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Alternative_Strategic_Directions\"><\/span>Alternative Strategic Directions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are numbers of strategic directions which an organisation may pursue. These possible <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> strategies are shown in Fig. 10 in which seven alternatives are suggested based upon the extent to which new markets or new products are sought (Ansoff, 1968). In this model, the seventh alternative which is diversification may be split into related and unrelated business areas.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Do nothing &#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withdrawal &#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidation<\/td><td>&#8211; Product <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a><\/td><\/tr><tr><td>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market penetration<\/td><td>&nbsp;<\/td><\/tr><tr><td>&#8211; Market <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a><\/td><td>Diversification &#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Related &#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrelated<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;On existing&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;on new<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Do_Nothing\"><\/span>Do Nothing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><br>This is strategy that ensures the continuation of the existing direction, i.e. tends to maintain the status quo. On the long-term, it may not be beneficial but as a short-term approach it may be appropriate. Some <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a> may occur if the current market grows otherwise the resource levels and other things will remain constant.<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Withdrawal\"><\/span>Withdrawal<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><br>Using this strategy, the organisation has to remove itself from the industry due to an irreversible decline in demand, adverse competitive pressure and environmental changes or opportunity cost that indicates other business activities after a more appropriate strategic direction. It is a strategy of assets realisation and resources deployment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Consolidation\"><\/span>Consolidation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This occurs when a dominant industry organisation aims at stability in order to accumulate cash reserves for future activities. Consolidation is achieved by cutting down costs and\/or increase prices with the aim of obtaining better margin. It is strictly followed to maintain the current market share. A similar strategy with the intention to reduce the scale of operation is called retrenchment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Integration_Strategies\"><\/span>Integration Strategies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>These are the forward, backward and horizontal <a href=\"https:\/\/support.centreforelites.com\/en\/definitions-and-models-of-mental-health-and-illness\/\">integration<\/a> strategies. They are sometimes collectively called vertical <a href=\"https:\/\/support.centreforelites.com\/en\/definitions-and-models-of-mental-health-and-illness\/\">integration<\/a> strategies.<\/p>\n\n\n\n<p>These strategies allow the firms to gain control over distributors, suppliers or competitions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Forward_Integration\"><\/span>Forward Integration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This involves gaining ownership or increased control over distributors or retailers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Backward_Integration\"><\/span>Backward Integration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This is a strategy for seeking ownership or increased control of a firm\u2019s suppliers. The strategy is appropriate when a company\u2019s current suppliers are unreliable, costly or cannot meet the company\u2019s demand. Some firms use backward <a href=\"https:\/\/support.centreforelites.com\/en\/definitions-and-models-of-mental-health-and-illness\/\">integration<\/a> to gain control over suppliers but some companies instead owe their suppliers and negotiate with several outside suppliers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Horizontal_Integration\"><\/span>Horizontal Integration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It refers to a strategy of seeking ownership of or increased control over a firm\u2019s competitors. This is the most significant trend in strategic management of today.&nbsp;It is a <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a> strategy. Mergers, acquisitions<\/p>\n\n\n\n<p>and take-overs among competitors allow for increased economies of scale and enhance transfer of resources and competencies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Intensive_Strategies\"><\/span>Intensive Strategies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Market penetration, market <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> and product <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> are referred to as \u201cintensive strategies\u201d. This is because they require intensive efforts to improve a firm\u2019s competitive position with existing products.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Market_Penetration\"><\/span>&nbsp;Market Penetration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This seeks to increase market share for present products or services in present markets through greater marketing efforts. It involves increasing the number of sales persons, advertising expenditures, offering extensive sales promotion items and increasing publicity efforts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Market_Development\"><\/span>&nbsp;Market Development<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This involves the introduction present products or services into new geographical areas. Many domestic firms are striving hard to carry their products abroad. Expansion into the world market is however, no guarantee for success. It is more important to allow greater care in quality control and consumer services.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Diversification_Strategies\"><\/span>&nbsp;Diversification Strategies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Generally, there are three types of diversification strategies, namely, concentric, horizontal and conglomerate. Diversification strategies are becoming less popular. This is because organisations are finding it more and to manage diverse business activities.&nbsp;Peters and Waterman&#8221;s&nbsp;advice to firms is to stick to the knitting and not to stray too far from the firm\u2019s basic area of competence.<\/p>\n\n\n\n<p>However, diversification is still an appropriate and successful strategy. For a company like Philip Morris diversification makes sense because cigarette consumption is declining, product liability suits are a risk and some investors reject tobacco stock on principle.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concentric_Diversification\"><\/span>Concentric Diversification<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>An example is the New Zambia Newspapers going into exercise book production. The two products have both marketing and technological energy but may not have the same set of customers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Horizontal_Diversification\"><\/span>&nbsp;Horizontal Diversification<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This strategy\u2019s is not as risky as the conglomerate diversification because the firm should be familiar with its present customers, e.g. New Zambian Newspaper Company going into property <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> and house building. These two products have neither marketing nor technological synergy but may have the same set of customers.<\/p>\n\n\n\n<p>&nbsp;&nbsp;Conglomerate Diversification<\/p>\n\n\n\n<p>The strategy entails adding new unrelated products or services.<\/p>\n\n\n\n<p>Conglomerate diversification is practised partly in expectation of profit from breaking up acquired firms and selling divisions piecemeal. This means that the company\u2019s assets are worth more separately than when they are together. There is a kind of anti-synergy, the whole being worth less than the units.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Defensive_Strategies\"><\/span>Defensive Strategies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Joint_Ventures\"><\/span>&nbsp;Joint Ventures<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This is a strategy that occurs when two or more companies form a temporary partnership or a consortium for the purpose of capitalizing on some opportunities. It is considered defensive because the firm is not&nbsp;undertaking the project alone. Two or more firms may have shared equity ownership in the new entity.<\/p>\n\n\n\n<p>Other corporate arrangements include research and <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> partnership, cross-distribution agreements, cross-licensing agreements, cross-manufacturing agreements and joint bidding consortia. Joint ventures and co-operative arrangements are being used because they improve company communications, networking and minimize risk. Cooperative&nbsp;arrangements even between competitors are on the increase.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Retrenchment\"><\/span>&nbsp;&nbsp;Retrenchment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This strategy occurs when an organisation regroups through cost and assets reduction to reverse declining sales and projects. It is sometimes called turnaround or re-organisational strategy.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retrenchment can&nbsp;entail selling off land and building to raise the needed cash, pruning product line, closing obsolete factories or marginal business, reducing the number of employees and instituting expenses control system. In some case, bankruptcy can be an effective type of retrenchment strategy.<\/p>\n\n\n\n<p>Bankruptcy can allow a firm to avoid major debts obligations and to avoid union contracts. Bankruptcy is a liquidation used only when a company sees no hope of being able to operate successfully or to obtain necessary creditor agreement.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Divestiture\"><\/span>Divestiture<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This is a strategy involving the sale of a division or part of an organisation. It could be part of an overall retrenchment strategy to rid an organisation of businesses that are unprofitable, that require too much capital or that do not fit well with the firms other activities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Liquidation\"><\/span>Liquidation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Liquidation is a strategy that involves selling all of a company&#8221;s assets or in parts, for their tangible worth. Liquidation is a recognition of defeat and consequently can be an emotionally difficult strategy.<\/p>\n\n\n\n<p>However, it may be better to ease operating than to continue losing large sums of money.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Combination_of_Strategies\"><\/span><strong>Combination of Strategies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many organisations pursue a combination of two or more strategies simultaneously. However, no one organisation can afford to pursue all the strategies that will benefit the firm because organization, like individuals, has limited resources; difficult decisions must be made and priorities must be established.<\/p>\n\n\n\n<p>Therefore, organisations must choose among alternative strategies. In large diversified companies, a combination strategy is used when different divisions pursue different strategies. Similarly, organisations struggling to survive may use a combination of several defensive strategies such as divestiture, liquidation and retrenchment&nbsp;simultaneously.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Requirements_for_Developing_Effective_Strategies\"><\/span>Requirements for Developing Effective Strategies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Alternative strategies are derived from the firm&#8221;s mission, objectives, external and internal audits. They are consistent with or built upon, past strategies that have worked well. There are many methods of developing effective strategies. The requirements may involve:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_A_Routine_Method\"><\/span>&nbsp;A Routine Method<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This involves looking at what the company has been doing in the past. Caution must however; be exercised in adopting this technique since the new challenge or problem may be a break away from the past.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Creativity\"><\/span>Creativity<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As a strategist, you may attempt to conceptualise a scenario of the organisation and try to develop effective strategy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Brainstorming\"><\/span>Brainstorming<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Developing effective strategies may also require putting together many experts for a number of days for brainstorming.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Consultant_Services\"><\/span>&nbsp;Consultant Services<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many managers now employ the services of consultants for developing effective company strategies.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Holistic_Approach\"><\/span>&nbsp;Holistic Approach<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Strategic planning should be initiated by a company&#8221;s top management because of the broad perspective of these executives. The strategic process works from general to specific. This is called&nbsp;<strong>holistic&nbsp;<\/strong>approach to strategic planning.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tactical_Approach\"><\/span><strong>Tactical Approach<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Some researchers believe that the holistic approach is inferior to a tactical approach in certain circumstances. With the tactical approach, strategic managers work up through the firm in their study of its potential. Strategic management process must be a people process for it to be successful. Through the involvement in the process, the managers and employees become committed to supporting the organisation.<\/p>\n\n\n\n<p>&nbsp;&nbsp;Dialogue<\/p>\n\n\n\n<p>Dialogue and participation are also essential ingredients.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Informed_Employees\"><\/span>Informed Employees<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Fundamental to effective strategy <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> are fully informed employees at all levels in the organisation.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every employee must be&nbsp;informed of business objectives, the process of achieving the objectives, customers, competitors and product plans.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Global_Factors\"><\/span>&nbsp;&nbsp;Global Factors<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Global factors must be considered in developing effective strategy. The boundaries of countries can no longer define the limits of people&#8221;s&nbsp;<a href=\"https:\/\/www.blogger.com\/blog\/post\/edit\/7193241829689759114\/2320834433725238687#\">imaginations<\/a>. To see the world from the perspective of others has become a matter of survival for business. The price and quality of a firm&#8221;s product must be competitive on a worldwide basis not just on a local basis.<\/p>\n\n\n\n<p>Based on past experience, judgment and feelings, intuition is essential to making good strategic decisions. Intuition must be integrated with analysis in decision making. This is because analytical thinking and intuitive thinking complement each other. Operating from the \u201cI have already made up my mind, don&#8221;t bother me with the facts made\u201d, is not management by intuition; it is management by ignorance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This article talks about the different types of strategy in business management that are in use in various organisations for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":136,"footnotes":""},"categories":[136],"tags":[178],"class_list":["post-1060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategic-management","tag-business-management"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Types-of-Strategies-in-Strategic-Management.jpg?fit=150%2C150&ssl=1","jetpack-related-posts":[{"id":1061,"url":"https:\/\/support.centreforelites.com\/en\/strategy-formulation\/","url_meta":{"origin":1060,"position":0},"title":"Business Strategy Formulation. The 5 Levels","author":"centreforelites","date":"April 20, 2022","format":false,"excerpt":"This article deals with strategy formulation, particularly, the essential elements that are involved in the formulation of strategy. It discusses how strategy formulation gives the direction that the organisation wants to go. The different levels of strategy formulation are enumerated. The article ends by giving vivid information on the background\u2026","rel":"","context":"In &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/en\/category\/strategic-management\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1054,"url":"https:\/\/support.centreforelites.com\/en\/strategy-implementation-organisations-response-innovation-and-politics\/","url_meta":{"origin":1060,"position":1},"title":"Strategy Implementation: ORGANISATION\u2019S RESPONSE, INNOVATION AND POLITICS","author":"centreforelites","date":"April 20, 2022","format":false,"excerpt":"\u00a0The strategic manager has as its responsibility the formulation and\u00a0Strategy Implementation. However, the success of the strategy depends, to a large extent, on the working environment. A flexible, responsive and innovative internal environment is crucial to the job of the strategy manager. This goes along with the quality of the\u2026","rel":"","context":"In &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/en\/category\/strategic-management\/"},"img":{"alt_text":"Strategy Implementation Strategies","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/Strategy-Implementation-Strategies.png?fit=850%2C634&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/Strategy-Implementation-Strategies.png?fit=850%2C634&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/Strategy-Implementation-Strategies.png?fit=850%2C634&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/Strategy-Implementation-Strategies.png?fit=850%2C634&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":791,"url":"https:\/\/support.centreforelites.com\/en\/introduction-to-strategic-management\/","url_meta":{"origin":1060,"position":2},"title":"Introduction to Strategic Management","author":"centreforelites","date":"April 18, 2022","format":false,"excerpt":"Strategic management provides better guidelines to the entire organisation on the crucial point of \u201cwhat is it we are trying to do and to achieve\u201d? It makes managers more alert to the winds of change, new opportunities\u00a0and threatening developments. It also provides managers with a rationale for evaluating competing\u00a0budget\u00a0requests for\u2026","rel":"","context":"In &quot;Blog&quot;","block_context":{"text":"Blog","link":"https:\/\/support.centreforelites.com\/en\/category\/blog\/"},"img":{"alt_text":"Strategic management","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1125,"url":"https:\/\/support.centreforelites.com\/en\/the-concept-of-strategic-management\/","url_meta":{"origin":1060,"position":3},"title":"The Concept of Strategic Management","author":"centreforelites","date":"March 28, 2022","format":false,"excerpt":"\u00a0Strategic management provides better guidelines to the entire organisation on the crucial point of \u201cwhat is it we are trying to do and to achieve\u201d? It makes managers more alert to the winds of change, new opportunities\u00a0and threatening developments. It also provides managers with a rationale for evaluating competing budget\u2026","rel":"","context":"In &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/en\/category\/strategic-management\/"},"img":{"alt_text":"Strategic management","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":793,"url":"https:\/\/support.centreforelites.com\/en\/7-strategic-management-components\/","url_meta":{"origin":1060,"position":4},"title":"7 Strategic Management Components","author":"centreforelites","date":"April 18, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=WEAjAFytFoc INTRODUCTION In formulating strategies, there are basic components or elements that we usually consider. These include company mission, profile, goals, objectives, strategy and policy. The components are not so cleanly and neatly performed in actual practice. Usually, there is an interplay of the elements. The boundaries between the components\u2026","rel":"","context":"In &quot;Blog&quot;","block_context":{"text":"Blog","link":"https:\/\/support.centreforelites.com\/en\/category\/blog\/"},"img":{"alt_text":"Strategic Management Components","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":1124,"url":"https:\/\/support.centreforelites.com\/en\/strategic-management-components\/","url_meta":{"origin":1060,"position":5},"title":"Strategic Management Components","author":"centreforelites","date":"March 28, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=WEAjAFytFoc INTRODUCTION In formulating strategies, there are basic Strategic Management Components or elements that we usually consider. These include company mission, profile, goals, objectives, strategy and policy. The components are not so cleanly and neatly performed in actual practice. Usually, there is an interplay of the elements. The boundaries between\u2026","rel":"","context":"In &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/en\/category\/strategic-management\/"},"img":{"alt_text":"Strategic Management Components","src":"https:\/\/i0.wp.com\/www.researchgate.net\/profile\/Driss-Harrizi\/publication\/320281746\/figure\/fig20\/AS%3A547485911601156%401507542221070\/The-components-of-strategic-management.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.researchgate.net\/profile\/Driss-Harrizi\/publication\/320281746\/figure\/fig20\/AS%3A547485911601156%401507542221070\/The-components-of-strategic-management.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.researchgate.net\/profile\/Driss-Harrizi\/publication\/320281746\/figure\/fig20\/AS%3A547485911601156%401507542221070\/The-components-of-strategic-management.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/posts\/1060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/comments?post=1060"}],"version-history":[{"count":1,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/posts\/1060\/revisions"}],"predecessor-version":[{"id":1303,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/posts\/1060\/revisions\/1303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/media\/1302"}],"wp:attachment":[{"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/media?parent=1060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/categories?post=1060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/support.centreforelites.com\/en\/wp-json\/wp\/v2\/tags?post=1060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}