Operational Approach Examples
Every business has an end goal of reducing costs and improving sales. Businesses’ operations are made up of multiple processes that include material acquisition, product delivery, and manufacturing costs. Business strategies that are based on operations include the location and size of facilities, product diversification, and expansion.
The following are examples of operational approach strategies in action:
Market Penetration Strategy
Market penetration is characterized by capturing a larger piece of a target market or demographic. Developing an operational approach strategy to market generation has several key focus areas.
For example, businesses need to decide how they want to attract customers away from competitors. Market generation strategies could focus on distinctive geographic locations centered around a target demographic.
Product Development Strategy
In terms of operational strategies, product development is more than just the initial rollout of a new product.
An example could be a software company that is releasing a new piece of software that offers free patches and low-cost upgrades for existing products and those in development.
Improved Supply Chain & Logistics
The supply chain is a process of creating and building a product via its delivery. Businesses can incorporate operations strategies that seek to improve costs associated with the development of a product or the efficient delivery of goods.
Examples of improved creation include reducing the costs of materials for bulk purchases or automating sections of the production line.