BU288 Lecture 7: Bu288 lectur 7
Document Summary
The characteristics of the corporate strategy are explained as below: wider in scope: the scope of corporate strategies is wide as it applies to whole organisation. Other strategies have to confirm to the overall objective of the firm formulated at this level: formulated by top management: corporate strategies are formulated by top management. Corporate strategies are concerned with formulating the vision statement for the whole company: general and conceptual: corporate strategies are not specific like business and functional strategies. It deals with number of strategic issues and involves lot of intellectual thinking: long term orientation: corporate strategies are characterised by long term orientation. They decide where the company intends to be in future. It charts the future course of action for the managers. Fulfilling the long range plan and vision is not a short term process but a long one: applicable to whole organisation: corporate strategies entail setting overall objectives for the firm that applies to the entire organisation.
