Verizonâs Billion-Dollar Story. Communications giant rings up big savings with shared services. In the telecom industry, many of the major players have corporate roots that reach back to Alexander Graham Bellâs invention of the telephone and his founding of what is now AT&T.
To say that a business has a functional level strategy for product development, for instance, means that the company has developed a strategy for selling its goods and services to customers. Functional business strategy is part of an organization's wider strategic plan.
Strategies are road maps or particular approaches the company takes in an effort to reach objectives. The tactical plan is the critical final stage, however, where specific actions and tasks are assigned to departments and employees that need to complete them.