CORPORATE STRATEGY AND BUSINESS STRATEGY

Abstract

The concept of strategy has remained a subject of interest in various domains such as politics, war, sports, or business. In this respect, leaders of political parties, commanders of armies, managers of sports clubs, or business leaders are expected to have a strategy. As any corporation is directly interested in making money and obtaining profit it needs a framework in order to better understand what is doing and is willing to do in the future, and how it is possible to obtain an advantage over other competitors. Thus, the strategy may provide corporations with the needed concepts, tools, methods, and actions in order to surpass their rivals. The paper aims to define the concepts of corporate strategy and business strategy, and illustrate their connection. In order to reach the objectives of the paper, the author used a scientific approach based on a qualitative research method. Corporate strategy constitutes top management’s primary task involving the running of the whole business organization wheresa business strategy refers to the running of a specific business unit. The paper provides a theoretical framework for better understanding the concepts of corporate and business strategy starting from the fact that strategy is a complex term. Also, it shows there is a two-way connection between these two concepts.

Keywords

• corporate strategy
• business strategy
• strategy
• corporation