BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following focuses on supporting the corporate and business strategies?
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Competitive strategy
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Corporate strategy
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Operational strategy
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National strategy
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Explanation:
Detailed explanation-1: -The main tasks of corporate strategy are: Allocation of resources. Organizational design. Portfolio management.
Detailed explanation-2: -The focus of the corporate strategy is on the entire organization. It determines the path to create value both for shareholders and clients/customers. The strategy spans across the entire portfolio of businesses owned by the company and functions that enable and empower these businesses.
Detailed explanation-3: -Business strategy is concerned with strategic decisions concerning the choice of product, competitive advantage, customer satisfaction, etc. Corporate strategy is concerned with the overall objective and scope of business to fulfil stakeholders’ expectations.
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