Strategic Management Course Overview and Strategy Concept
Strategic Management Course Overview and Strategy Concept
Strategic Management Course Overview and Strategy Concept
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One important distinction:<br />
Business, Corporate <strong>and</strong> Functional <strong>Strategy</strong><br />
� Most companies are diversified: active in more than one industry with<br />
different organizational units (business units)<br />
� A diversified company has 3 levels of strategy<br />
– Business <strong>Strategy</strong><br />
• How a firm competes within a particular market <strong>and</strong> industry?<br />
• Create a competitive advantage in its given industry<br />
– Corporate <strong>Strategy</strong><br />
• Which businesses should we be in?<br />
• How to create value for the corporation as a whole?<br />
– Operational/Functional <strong>Strategy</strong><br />
• How each part of the business is organised to deliver the corporate <strong>and</strong><br />
business-unit level strategic direction<br />
• Focuses on issues of resources, processes, people, etc.<br />
© 2007 Prof. Dr. Bernd Venohr<br />
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