Strategy And Implementation

Question 1

Corporate strategy

Answer 1

Corporate strategy is concerned with the strategic decisions a business makes that affect the entire business.

At corporate level, strategy is concerned with setting objectives for overall financial performance, proposed mergers, long term Human Resource planning and allocation of resources

Question 2

Strategic direction

Answer 2

Strategic direction is a course of action that ultimately leads to the achievement of the stated goals of the corporate strategy.

Once the corporate strategy is established then the strategic planning that follows is used to establish the strategic direction.

Question 3

Division strategy

Answer 3

The next level of the business strategy is concerned with directing the divisions within an organisation. The overall corporate strategy will be communicated to the divisional managers.

This information shapes the plans the divisional managers create.

Question 4

Functional strategy

Answer 4

Functional strategy relates to a single functional operation. The decisions made at this level of strategy are guided and limited by the higher level corporate and divisional strategy.