This document discusses the differences between corporate strategy and functional strategy. Corporate strategy refers to the overall goals and direction of an entire organization, while functional strategy focuses on the strategies for individual departments like marketing, finance, and operations. Corporate strategy is concerned with issues like the industries and businesses the organization competes in, how business units are integrated and managed, and competitive positioning. Functional strategy involves developing resources to efficiently execute business unit strategies in areas like business processes and the value chain.
In this lesson you learned about the three fundamental areas of executing strategy. You learned that reviewing Value chain activities, Marshalling resources and Managing change are the main components to effectively put Strategy Into Action.
Strategic Purpose
Business Level Strategy
Corporate Level and International Strategy
Strategy Direction and Methods of Developments
Organizing for Strategy Success
Enabling Strategy Success
Managing Strategic Change
Understanding Strategy Development
Key Learning Points
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
In this lesson you learned that in diversified company’s, crafting a company’s fully-fledged strategy involves four distinct types of strategic actions and initiatives – i.e. Corporate Strategy, Business Strategy, Functional Unit Strategy and Operational Strategy.
In this lesson you learned about the three fundamental areas of executing strategy. You learned that reviewing Value chain activities, Marshalling resources and Managing change are the main components to effectively put Strategy Into Action.
Strategic Purpose
Business Level Strategy
Corporate Level and International Strategy
Strategy Direction and Methods of Developments
Organizing for Strategy Success
Enabling Strategy Success
Managing Strategic Change
Understanding Strategy Development
Key Learning Points
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
In this lesson you learned that in diversified company’s, crafting a company’s fully-fledged strategy involves four distinct types of strategic actions and initiatives – i.e. Corporate Strategy, Business Strategy, Functional Unit Strategy and Operational Strategy.
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Corporate level strategies are the highest level of strategic planning within an organization. These strategies focus on the overall direction and scope of the entire organization, addressing questions like which industries to compete in, how to allocate resources, and how to achieve synergy among various business units. The Portfolio Approach, Core Competence Approach, Expansion Strategy, and Retrenchment Strategy are four significant corporate-level strategies.
Mb0052 strategic management and business policysmumbahelp
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
Corporate level strategies are the highest level of strategic planning within an organization. These strategies focus on the overall direction and scope of the entire organization, addressing questions like which industries to compete in, how to allocate resources, and how to achieve synergy among various business units. The Portfolio Approach, Core Competence Approach, Expansion Strategy, and Retrenchment Strategy are four significant corporate-level strategies.
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1. Strategy
- a plan of action or policy designed
to achieve a major or overall aim.
2. Corporate strategy usually has a broader industry
focus including competitors and markets.
Corporate strategy and functional strategy exist at
different levels within an organizational hierarchy.
Corporate strategy refers to the business
philosophy, direction and techniques used to guide
your entire organization toward its mission and
objectives. Functional strategy has a similar
purpose but at the functional level of an
organization.
What Is the Difference Between
Corporate Strategy & Functional
Strategy?
3. Covers the strategies scope
of the organization as a
whole. For the most
organization the corporate
strategies plan is the only
strategies plan
Corporate level strategies
4. In the first case the
organization may be
multidivisional in nature to the
extent that in principle or even
in law, separate parts of the
enterprise could operate as
viable entities in their own right.
Strategy Level
5. corporate level
business unit level
functional or departmental level.
Strategy can be formulated on three
different levels:
6. Corporate Level Strategy
Corporate level strategy
fundamentally is concerned with the
selection of businesses in which the
company should compete and with
the development and coordination of
that portfolio of businesses.
7. Reach - defining the issues that are corporate responsibilities;
these might include identifying the overall goals of the
corporation, the types of businesses in which the corporation
should be involved, and the way in which businesses will be
integrated and managed.
Competitive Contact - defining where in the corporation
competition is to be localized.
Corporate level strategy is concerned
with:
8. Managing Activities and Business Interrelationships -
Corporate strategy seeks to develop synergies by sharing and
coordinating staff and other resources across business units,
investing financial resources across business units, and using
business units to complement other corporate business
activities.
Management Practices - Corporations decide how business
units are to be governed: through direct corporate
intervention (centralization) or through more or less
autonomous government (decentralization) that relies on
persuasion and rewards.
9.
10. Business Unit Level Strategy
A strategic business unit may be a
division, product line, or other
profit center that can be planned
independently from the other
business units of the firm.
11. Functional Level Strategy
The functional level of the organization is the
level of the operating divisions and departments.
The strategic issues at the functional level are
related to business processes and the value
chain. Functional level strategies in marketing,
finance, operations, human resources, and R&D
involve the development and coordination of
resources through which business unit level
strategies can be executed efficiently and
effectively.
12. A value-creating strategy is one in which
the business seeks to edge out its
competitors by gaining more market
share. These strategies seek to add real
and perceived value to the business'
products and services by exploiting
economies of scope -- the resources and
capabilities of the business that can be
shared across the entire organization to
reduce costs and increase efficiency.
Value-Creating Strategy
13. A business can employ a value-neutral
strategy when the organization isn't so much
concerned with allocating resources and
manpower as it is with securing its current
place within the market. In essence, value-
neutral strategy helps shore up the business'
operations plan. Initiating regulatory
oversight, creating synergy between
departments, working to reduce risk and
securing a steady cash flow are value-neutral
approaches
Value-Neutral Strategy
14. Businesses also sometimes engage in value-
reducing strategies. This happens on an
organization-wide level when the
stakeholders or customers perceive that the
business is getting too big for its britches or
that only the top-level executives are
benefiting from diversification. In this case,
value-reducing strategy refocuses the
business' market, helps it define a target
demographic and puts mechanisms in place to
prevent unnecessary or harmful growth.
Value-Reducing Strategy
15. While it sometimes is evident which
type of corporate level strategy an
organization should adopt, it is less clear
at other times, particularly when the
market is unsteady or the business
cannot afford to waste resources trying
new products and services that may not
be profitable. Asking yourself a few
strategy-level questions can help in the
decision:
Deciding on a Strategy