Asked by Estefanie Estupinan on Jun 10, 2024
Verified
The difference between a corporate strategy and a business strategy is that
A) the former sets long-term direction for the total enterprise and the latter is concerned with how a division or strategic business unit will compete in its product or service domain.
B) the former focuses on how a division will compete in its product or service domain and the latter is concerned with guiding the use of organizational resources to implement business strategies.
C) the former is concerned with formulating and implementing strategies while the latter is involved in crafting strategies to guide the allocation of resources.
D) the former adopts standardized products and advertising for use worldwide and the latter seeks efficiencies of global operations with attention to local markets.
E) the former makes decisions regarding facilities locations, and new technologies and the latter customizes products and advertising to best fit local needs.
Corporate Strategy
The overall plan and direction devised by the management of a company to achieve long-term business objectives.
Business Strategy
A plan of action designed by an organization to achieve its long-term goals and secure a competitive position in the market.
Product Domain
The complete range of products that a company creates or plans to offer within its market.
- Absorb the diverse hierarchy of strategy within a corporation, including elements of corporate, business, and functional strategies.
Verified Answer
Learning Objectives
- Absorb the diverse hierarchy of strategy within a corporation, including elements of corporate, business, and functional strategies.
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