In this article we will discuss about the nature and scope of corporate strategy of a firm. Corporate strategy is a management concept. Ansoff, by means a matrix: growth vector components (illustrated below), indicates the direction in which the firm should move with respect to its current product-market posture. 'Market penetration' denotes a growth direction through the increase of market [...]
The following points highlight the six internal factors influencing strategies and decisions of an organisation. The factors are:- 1. Top Management Philosophy 2. Mission and Objectives 3. Management Structure and Nature 4. Superior-Subordinate Relationship 5. Human Resources 6. Corporate Image and Product-Brand Image. Factor # 1. Top Management Philosophy: The management's attitudes and value judgments with respect to individual group [...]
The following points highlight the six main objectives of a corporate business unit. The six-fold objectives are:- 1. Organic Objectives 2. Economic Objectives 3. Social Objectives 4. Human Objectives 5. National Objectives 6. Strategic Objectives. 1. Organic Objectives: A corporate business unit is essentially an organic entity having its own infancy, childhood, adulthood and maturity. Thus, its concern is to [...]