Functional strategy involves department-specific strategies within an organization, such as purchasing and marketing strategies.
Functional strategy refers to the strategies belonging to different departments in a business unit, such as purchasing, production, and marketing strategies.
Unlike group or business strategies, which focus on coordination between subsidiaries or individual units, functional strategies are specific to different departments within an organization.
For example, a company deciding to hire individuals with social media and web development skills for a new project is an illustration of a functional strategy focusing on the skills and functions of a particular department.
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