Answered: Corporate strategy is the choice of…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Corporate strategy is the choice of direction of the firm and the management of its business or product portfolio. Discuss alternative growth strategies for a corporation, giving examples according to your experience/readings.

Expert Solution

Step 1

Corporate Strategy

This is a strategy that encompasses the entirety of the organization and focuses on the long-term goals and objectives of the organization. It is used to define the organizational value, morals, and principles and ensures maintaining employees motivated to promote consumer satisfaction.
It is a continuous process as it involves building and maintaining stakeholder and investor trust in the company. Therefore, organizations keep updating and tweaking their corporate strategy to maintain the demands and trust of investors and other stakeholders.