Business Studies Theory by Topic - Strategy

Below is a list of business studies theory articles relating to the Strategy section of Business Case Studies. Choose your sub topic from the list of arrowed links below the Strategy heading to find all theoretical explanations.

Strategy revision theory

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What is ‘strategy theory’?

This part of the curriculum looks at the various external influences that businesses must identify, monitor and respond to in order to maintain competitive edge.

  • The business cycle - considers the impacts of changes in the economic environment on a business and how a company needs to respond in each of the different phases (downturn, bust, recovery, boom) in order to remain viable.
  • External influences - Political, Economic, Social, Technological, Environmental, Legal factors (PEST/SLEPT/PESTEL analysis) - and how a business needs to anticipate and take the impacts of these into consideration
  • Competition - considering the factors that affect degrees of competition (consumer knowledge, control of prices, number of rival products, ease of access to the market), including Porter's 5 forces analysis
  • Business ethics and Corporate Responsibility - looking at how a business demonstrates its values and responds to the wider community and society and the benefits of behaving ethically
  • Globalisation - exploring the factors affecting globalisation, eg technological change, deregulation of business, changing consumer demand, emerging markets, and the effects these have on a business