Compare and contrast the value of three separate, grand strategies for your organization.
What questions must each grand strategy answer?
Who in the organization does the strategy affect and how?
Prescribe a grand strategy for the organization. Explain the reasons for your recommendation.
Strategy is the determination of the basic long term goals and objectives of an enterprise and the adoption of the courses of action and the allocation of resources necessary for carrying out these goals. Strategy operates at three levels in an organization; the corporate level, business level and the functional level. Every organization has its own strategy, which aims at the planned development of the organization. Corporate level strategies are basically about the choice of direction that a firm adopts in order to achieve its objectives. In case of a small firm, corporate strategies would aim at a better profit for the firm. While, in case of a large firm, the aim of corporate strategy is to manage the various businesses to maximize their contribution to the overall corporate objectives. The three grand strategies, which I would like to compare and contrast for my organization are: Stability strategy, Expansion strategy and Combination strategy (Strategy- what is strategy?, 2008).
Stability Strategy: In stability strategy the firm remains with its present business and the same product-market postures. It is safety oriented and does not renew the firm through fresh investments. The risk is also less in stability ...
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