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. statement should express the organization's purpose in a way that inspires support and ongoing commitment. It is up to the mission statement to set the tone of the company and to outline concrete goals.