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Strategy

Features of strategy

Levels of strategy

Corporate level strategy

  • At this level, strategic decisions related to organization-wide policies are taken by top level management with a vision of determining 'where the company wants to be?'.
  • It has two main aspects: formulation of strategy (strategic planning) and strategy implementation
  • The nature of strategy at this level tend to be value-oriented, conceptual and than other levels.
  • Major financial policy decisions involving acquisition, diversification and structural redesigning belong to this level.

Business level strategy

  • Business level strategy is more likely related to a unit within the whole. It is concerned with competition in a market.
  • The concerns are about what products or services should be developed and offered to which markets in order to meet customer needs and organizational objectives.

Functional/Operational level strategy

  • Functional strategy involves decision making with respect to specific functional areas- production, marketing, personnel, finance, etc.
  • While corporate and business level strategies are concerned with "doing the right things", functional strategies stress on "doing things rights".