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.
When you're coming up with the concept for your business, an important component of your overall strategy plan is a mission statement. This brief statement declares the purpose of an organization and defines the reason for the company's existence.he mission statement is also not necessarily the same as your vision statement, which defines where you want your company to go. While you may include the statement in your business plan, a mission statement is not a substitute for the plan itself.