Strategic Management

strategic Management

1- Discuss the major corporate-level strategy formulation responsibilities. How are they different from business-level strategy formulation responsibilities?

The majorresponsibilities of corporate-level strategy formulation are: direction setting, development of corporate-level strategy, selection of business and portfolio management, selection of tactics fordiversification and growth, and management of resources.
The difference between corporate-level and business-level responsibilities is that, at corporate-level, strategies are developed with the intent toalign business practices with the organization’s mission statement. Corporate level strategies influence the entire organization; on the other hand the main priority of business-level strategies is todevelop a sustainable competitive advantage. Leaders at the business level are primarily concerned in building and maintaining superior positioning within the industry in which the organization doesbusiness.

2- Why might an organization choose to diversify?

Diversification strategies are used to expand firm’s operations by adding markets, products, services or stages of production to theexisting business. The purpose of diversification is to allow the company to enter lines of business that are different from current operations.

3- How are marketing strategies affected by the firm'sbusiness-level strategy?

Marketing strategy is the plan for investing marketing efforts and resources to achieve business goals. This strategy is also used to implement a form’s genericbusiness-level strategy.

4- What are the characteristics of a well-developed functional strategy?

- Decisions made within each function should be consistent with each other.
- Decisions madewithin one function should be consistent with those made in other functions.
- Decisions made within functions should be consistent with the strategies of the business.



5- What is a matrix...