Corporate Strategy
Corporate Strategy
An overall plan made by your leadership team to meet a specific goal
A corporate strategy is an overall plan made by your leadership team to meet a specific goal. It is in concert with all of the corporate goals, using any and all corporate resources, and being supported by smaller tactical plans. Developing a corporate strategy is a key responsibility of management.
An example of corporate strategy: A company may be national and take on a mission of going international. Corporate strategy is then developed to achieve that mission. A struggling company might choose a survival strategy of ceasing international efforts in order to focus on national sales after realising that the new company mission is to survive.
The corporate strategy is vital to the organisation. Having the wrong Corporate Strategy in place is the company’s equivalent to pointing your car in the direction of a cliff and then accelerating.
A key objective of a strategy is not only developing a great strategy, but also getting the timing of your strategy right. TKNB will help you with the timing to create a Corporate Strategy that will dramatically increase revenues and company profits.
”Strategy is about setting yourself apart from the competition. It’s not a matter of being better at what you do – it’s a matter of being different at what you do.”
Michael Porter
