Explain the difference between Business Corporate (B/C) and Functional Area (F) Strategies - Give examples of both.
Business Corporate level strategy: Corporate-level strategies address the entire strategic scope of the enterprise. This is the "big picture" view of the organization and includes deciding in which product or service markets to compete and in which geographic regions to operate. Thus Corporate Strategy is concerned with the overall purpose and scope of the business to meet stakeholder expectations. It is concerned with the overall purpose and scope of the business to meet stakeholder expectations. This is a crucial level since it is heavily influenced by investors in the business and acts to guide strategic decision-making throughout the business. Corporate strategy is often stated explicitly in a "mission statement". It includes directional strategy.Critical questions answered by corporate-level strategists thus include:
1. What should be the scope of operations; i.e.; what businesses should the firm be in?
2. How should the firm allocate its resources among existing businesses?
3. What level of diversification should the firm pursue; i.e., which businesses represent the company's future? Are there additional businesses the firm should enter or are there businesses that should be targeted for termination or divestment?
4. How diversified should the corporation's business be? Should we pursue related diversification; i.e., similar products and service markets, or is unrelated diversification
Example for an organization to decide whether to grow, stabilize or exit a particular business is a corporate level strategy.
It include the strategy for ...
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