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    Corporate Strategy: A Handbook for Entrepreneurs
    Corporate Strategy: A Handbook for Entrepreneurs
    Corporate Strategy: A Handbook for Entrepreneurs
    Ebook85 pages33 minutes

    Corporate Strategy: A Handbook for Entrepreneurs

    By Hiriyappa .B, Ph.D.

    ()

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    About this ebook

    Use of Strategies have been known to serve their purpose right from the beginning of time and has always been the weapon of the wise. From every major war to every corporate standing, use of strategy has played a very important and influential role. This book discusses corporate strategy and how an entrepreneur can use it to better establish their start-ups and growing firms.

    LanguageEnglish
    PublisherHiriyappa B
    Release dateApr 14, 2018
    ISBN9781386464167
    Corporate Strategy: A Handbook for Entrepreneurs

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      Book preview

      Corporate Strategy - Hiriyappa .B, Ph.D.

      1.  CORPORATE STRATEGY

      INTRODUCTION

      Mr. Deepak is an entrepreneur and operates a business enterprise. He has plans to expand his business activities but he doesn’t have any idea. He would like to set up a new corporate. He is very enthusiastic to know and learn corporate strategy and how to apply various strategies in business operation.

      Strategy is a plan, tactics and experience of experts who had succeeded in business and industry. The term ‘Strategy’ was first used in military science and it is considered as tactics to be used in wars for winning. These days, the term is used for win to win in the business, personal and professional life of an individual. An entrepreneur’s prime responsibility is to know how to frame a corporate strategy, implement it and how to control it without affecting the short-term goals of the business or life. Here, you will learn when to use an appropriate strategy, how to develop a strategy and predict the outcome from the strategy. Do you want to lead a successful business, profession and personal life? Then, you must learn, know, and practice the procedures of corporate strategy. Are you new to business? Just go through this book and you will get detailed ideas about strategy, development of strategy and execution of strategy with choices of alternatives. It provides you a control tool to know how to control unnecessary things that occur in self-businesses. Do you want to become a strategist and a strategy consultant? Then you should be willing to know, learn and practice corporate strategy, corporate strategy formulation and implementation process, long term and short-term objectives, application of generic Strategies and grand strategy structure, and diversification of business.

      WHAT IS CORPORATE STRATEGY?

      Corporate strategy is the design framework of the firm’s growth and development.

      ❖  Its main  objective  is the growth of the company in a particular direction, extent, pace and timing.

      ❖  Corporate strategy involves objective designing, implementation and control of the objectives of the firm that are helpful for the growth of the company.

      ❖  It determines the company’s mission, vision, long-term development and growth of firms.

      ❖  Corporate policy depends on its corporate strategy management. It will be made by strategists who are experts in the core competency area of the company.

      NATURE, SCOPE AND CONCERNS OF CORPORATE STRATEGY

      You should know the nature and scope of your corporate strategy and how it applies to your business. Corporate strategy is basically concerned with the choice of businesses, products and markets of the company. The nature, scope and concerns of corporate strategy are as outlined below:

       It should be involved and viewed along with objectively designed framework strategy of the firm.

       A strategically designed framework fills the firm’s strategic planning gap.

       It is concerned with the different choices of the firm’s products and markets. It generally involves the changes/additions/deletions in the firm’s existing product market postures in businesses. It serves the customer’s needs and requirements, and, meets and serves the business requirements.

       It is able to ensure the right fit to businesses and how to achieve it between the firm and its business environment.

       It helps to and focuses on building up the relevant competitive advantages for the firm in the market.

       Both corporate objectives and corporate strategy brings together and describes the firm’s business concepts.

      WHAT DOES CORPORATE STRATEGY ENSURE IN A FIRM’S BUSINESS

      In this section, you will get to learn how corporate strategy is helpful in the analysis of self-businesses.

       Firstly, corporate strategy ensures the firm’s business growth and correct alignment of the firm and its environment.

       It is ready to serve and ensure that the design strategy fills the strategic gaps in the business.

       It helps and serves to build up the firm’s relevant competitive advantages.

       Its primary strategy ensures that the masterminding and working of the right opportunity, fits between the firm and its external environment.

       It purposefully finds the firm’s weaknesses and threats and converts them into strengths and opportunities, and in this way ensures the firm’s businesses.

       It ensures that responding to the environment is a part and parcel of a firm’s existence in the market.

       It ensures to raise a major question about which decision is better and how to methodically respond to the firm.

       Corporate strategy is the opposite of ad hoc responses, and relates to the changes in the environment in competition, consumer tastes, technology and other variables in firms.

       It definitely involves long-term, well thought out and prepared responses to the various forces in the business environment.

      A STRATEGY IS PARTLY PROACTIVE AND PARTLY REACTIVE

      You can take a pen and paper and find out whether your business strategy is partly proactive and partly reactive from the following information:

      The company’s strength and strategy is typically a

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