Hi kids to better understand this chapter let’s take up few generic strategy or master strategy now these are the strategies given by the Glueck and jauch right they are stability strategy, Expansion strategy, Retrenchment strategy, and lastly combination strategy in which there may be a combo of any of the given now let’s take up one by one the very first is stability strategy which is do not think right as you are whatever you are doing continue the doing the same so remain in the same business same product. Objectives and scope remain same correct. Don’t do anything naya. Improve functional performance see how can you work better and better. Suitable when environment is certain and predictable. Usually followed by small and medium sized company because they cannot afford right to spend more to maintain market profits right kids remember that so these all are strategies which are followed by small and medium to maintain market profit now reasons for stability strategy

1. It is less risky, frequently employed strategy. “Kyun nuksan nahi hota isiliye”

2. It involves very few changes, no fresh investment.

3. The environment is stable.

4. Expansion may prove to be threatening.

So one goes for stability or don’t do anything new strategy i.e stability strategy. Now let’s take up the second Expansion strategy

1. Broaden the scope or new scope

2. Improve overall performance do some thing new

3. Introduce new products