Define Corporate Strategy

Corporate strategy determines how resources are to be used to meet he organization's goals in the areas of production,research and development.

David J.Collis & Cynthia A.Montgomery says, "Corporate strategy is the way a company creates value through the configuration and coordination of its multi-market activities."

David W. Cravens & Nigel F.Piercy says, " Corporate strategy consists of the decisions made by top-management and the resulting actions taken to achieve the objectives set for the business."

Corporate strategies are concerned with how the company can achieve its growth objectives in current or new business areas.Essential to corporate success is matching the capabilities of the organization with opportunities to provide long term superior customer value.

It is apparent that in the 21st century marketing environments,companies are drastically altering their business and marketing strategies to get closer to their customers,counter competitive threats and strengthen competitive advantages.

A useful basis for examining corporate strategy consists of 

1)Management's long-term vision for the corporation

2)Objectives which serve as milestones toward the vision

3)Business in which the corporation competes

4)Structure,systems and processes

5)Gaining corporate advantage through multimarket activity.

These challenges create imperatives for organizational change,which may sometimes be radical.

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