There are three main types of corporate strategies: stability, growth, and renewal. The document focuses on growth strategy, which aims to increase revenue either geographically or by expanding product lines. Growth strategies include concentration on existing markets and products, integration by entering new markets or industries, and diversification into unrelated businesses. The author chooses to pursue a growth strategy to increase revenue by providing existing products to new geographic markets or customer groups.

1. Corporate strategy
The overall scope anddirectionof a corporationandthe way inwhichitsvariousbusinessoperations
worktogetherto achieve particulargoals.
Types ofcorporate strategies
There are three typesof corporate strategies.
1) Stability
2) Growth
3) Renewal
 Growth business
In this type of business we increased revenues either by geographically or by extending product
range. There are three types of growth business.
i. Concentration
ii. Integration
iii. Diversification
 Stability business
It is also known as satisfying approach. When you are satisfied and what you are getting out from
your business, you are satisfied and think that there is no need to expand your business.
 Renewal business
Renewalstrategy is used when your business is not flourishing or is going in a downfall. This
strategy is also done in response to a decline in the corporation’s performance. Renewalstrategy
are of two types.
i. Retrenchement
ii. Turnaround
Out of these corporate strategies,the one we will be choosing is growth strategy.
Purpose for choosing growth strategy
The reason behind choosing growth strategy is that we want to increase our revenue by providing