The corporate strategy of any organisation is in effect an 'Umbrella' of its overall objectives. The corporate strategy of a business is enshrined in a mission statement. This is a general statement of intent, from which smaller more precise strategies would emerge, these strategies would offer objectives and targets for the individual departments to strive for, in a manufacturing business, these would include operations, quality, marketing, sales, personnel, finance, information technology, etc.
Corporate strategy according to the Johnson and Scholes will contain three elements:
- MISSION - Overriding premise in line with the values of expectation from the shareholders.
- GOAL - General statement of aim or purpose.
- OBJECTIVES - Quantification (if possible) or precise statement of goal.
The corporate strategy will bear in mind several other factors, not just to make a profit and keep the shareholders and investors happy, but moreover other influences such as political, economic, social, technological, market forces, etc.
These will all feed into the design of the corporate strategy. Within the realms of this web-site we will try and look at the main business strategies which arise from the corporate strategy.
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