Corporate Strategy MGMT455 Unit2 Intel

docx

School

Colorado Technical University *

*We aren’t endorsed by this school

Course

455

Subject

Management

Date

Feb 20, 2024

Type

docx

Pages

Uploaded by CountGalaxyDuck9

Corporate Strategy This lesson will explore the basic concepts of corporate strategy, which establishes an organization’s direction toward achieving its mission, vision, and goals. This lesson will also include an introduction to the types of corporate strategies and a discussion of the levels of corporate strategy. A corporate strategy is a set of plans that an organization prepares to achieve its mission, vision, and goals. Developed through a strategic planning process, corporate strategies guide the organization’s operations. Corporate strategies are developed by senior leaders and key stakeholders during the strategic planning process, and a variety of models can be used to develop a strategic plan. The resulting corporate acts a guide for senior leaders and key stakeholders to steer the organization’s activities. Each organization has a unique corporate strategy that addresses its current market conditions, internal operations, regulatory environment, and business development needs. The three basic types of strategies are growth strategies, sustainability strategies, and renewal strategies. Growth Strategies Growth strategies are used by organizations for expansion. Growth may be accomplished in a variety of ways. For instance, an organization may seek to improve its market share, or it may explore the development of new products or services. In regard to its operations, it may seek to increase production of products and services. If it is a regional organization, it may seek to nationalize its operations. If it is a national organization, it may seek to globalize its operations. Growth requires resources, including facilities, raw materials, human capital, and production capacity. Sustainability Strategies Sustainability strategies are used by organizations to maintain their operations. If an organization is operating sustainably, it means that its operations can continue without disruption. This requires the organization to have the financial, operational, market, and human capital to support the ongoing production of its products or services. If an organization has disruption in one of these areas, it may not be able to serve its customers. For example, if an organization’s supply chain of raw materials is disrupted because one of the raw materials for its product or service is no longer available, it affects the organization’s ability to produce and market the product or service.

Renewal Strategies A renewal strategy is used in organizations that have grown to their current capacity and have sustainable operations. When an organization renews, it evaluates its current operations, products and services, market strategy, and human capital potential to develop an understanding of where it came from, where it is, and where it is going. It addresses the aspects of the organization that have made it successful and reinforces these aspects in renewal programs throughout the organization. Levels of Corporate Strategy There are three levels of corporate strategy in an organization, as follows:  Corporate level: Addresses the big picture strategy of the entire organization  Business unit-level: Addresses a division or business unit  Employee group: Addresses departments or teams Together, each of the levels of strategies is a means for the organization to implement its corporate strategy broadly. Corporate strategy A set of plans that an organization prepares to achieve its mission, vision, and goals Sustainability strategies Used by organizations to maintain their operations Growth strategies Used by organizations to expand the organization Renewal strategies Used in organizations that have grown to their current capacity and have sustainable operations; these address the aspects of the organization that have made it successful and reinforce these aspects in renewal programs throughout the organization The second level of corporate strategy is the business node -level strategy, which addresses a division or business node.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Related Documents

Topic 5 DQ 1.docx

Topic 5 DQ 2.docx

Servant, ransformatonal and transactional leadership.docx

Leaders and self efficacy.docx

Gallup model of the employee life cycle notes assessment 1 5090.docx

Personal Model of Leadership.docx

World_Measurement_Report-17076558960136263 (1).docx

DEOPERSAUD, NANDA Streaming Policy Memo.docx

Mission Statement Critique.docx

BUSN221_Case Study_Sweet Tooth Inc.docx

Chapter 6 Case Study.docx

Ethics Questionnaire (2) (1).docx

Recommended textbooks for you

Management, Loose-Leaf Version

Management

ISBN:9781305969308

Author:Richard L. Daft

Publisher:South-Western College Pub

Practical Management Science

Operations Management

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:Cengage,

MARKETING 2018

Marketing

ISBN:9780357033753

Author:Pride

Publisher:CENGAGE L

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

Purchasing and Supply Chain Management

Operations Management

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning