04 February 2016

Strategic Management: Corporate Strategy (Definitions)

"Corporate strategy is the pattern of decisions in a company that determines and reveals its objectives, purposes, or goals, produces the principal policies and plans for achieving those goals, and defines the range of businesses the company is to pursue, the kind of economic and human organization it is or intends to be, and the nature of the economic and noneconomic contribution it intends to make to its shareholders, employees, customers, and communities. […] Corporate strategy defines the businesses in which a company will compete, preferably in a way that focuses resources to convert distinctive competence into competitive advantage." (Kenneth R Andrews, The Concept of Corporate Strategy, 1980)

"Concerns the scope of the product markets, industries and geographies addressed by the firm as a whole, the boundaries of the firm, and how to manage that scope in a way that adds value." (Duncan Angwin & Stephen Cummings, "The Strategy Pathfinder" 3rd Ed., 2017)

"A firm’s decisions and intentions with regard to the scope of its activities (its choices in relation to the industries, national markets, and vertical activities within which it participates) and the resource allocation among these." (Robert M Grant, "Contemporary Strategy Analysis, 10th Ed.", 2018)

"A plan that guides the activities and resource allocation required to deliver intended experiences that meet or exceed customer expectations in accordance with the goals of the organization." (Forrester,)

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