Strategy is a "unifying theme" that gives the coherence and direction to the actions and decisions of an individual or an organization.
- strategy is about winning.
Corporate strategy - where to compete ?
Business strategy - how to compete?
Corporate strategy
This defines the scope of the firm in terms of the industries and markets in which it competes.
Corporate strategy decisions include choice over in diversification, vertical integration, acquisition, and new ventures, and the allocation of resources between the different businesses.
Business strategy
Business strategy is concerned with how the firm competes within a particular industry or market.
