CORPORATE STRATEGY is the direction an organization takes with the objective of achieving business success in the long term. Recent approaches have focused on the need for companies to adapt to and anticipate changes in the business environment, i.e. a flexible strategy. The development of a corporate strategy involves establishing the purpose and scope of the organization's activities and the nature of the business it is in, taking the environment in which it operates, its position in the marketplace, and the competition it faces into consideration; most times analyzed through a SWOT analysis. Corporate strategy is often held by very large businesses and corporations. This strategy is ownership oriented (i.e., the chief benefactors of the strategy are the stake holders or share holders of the business). If the company is a corporation, the primary investors (most often forming a board of directors) dictate the driving needs of the investors and it is the job of the president or CEO to meet these needs. If the company is privately owned the owner acts as the primary stockholder. So corporate strategy in these different organisations will be different mainly because of organisational objectives and priorities and also nature of operations. For eg: Coco cola, Inc., has followed the growth strategy by acquisition. It has acquired local bottling units to emerge as the market leader. Small businesses, for example, generally operate in a single market or a limited number of markets with a single product or a limited range of products. The nature and scope of operations are likely to be less of a strategic issue than in larger organizations. Not much of strategic planning may also be required or involved and, the company may be content with making and selling existing product(s) and generating some profit. For large businesses or companies—whether in the private sector, public sector or multinationals—the situation is entirely different. Both the internal and the external environment and the organizational objectives and priorities are different. For all such companies, both strategic planning and strategic management .Multinationals have a greater focus on growth and development, and also diversification in terms of both products and markets. This is necessary to remain internationally competitive and sustain their global presence play dominant roles.
For public sector companies, objectives and priorities can be quite different from those in the private sector. Generation of employment and maximizing output may be more important objectives than maximizing profit. Stability rather than growth may be the priority many times. Accountability system is also very different in public sector from that in private sector. There is also greater focus on corporate social responsibility.
In non-profit organizations, the focus on social responsibilities is even greater than in the public sector. In these organizations, ideology and underlying values are of central strategic significance. Many of these organizations have multiple service objectives, and the beneficiaries of service are not necessarily the contributors to revenue or resource.
Ques-2- A strategy consultant’s role is to provide companies with advice on their goals and future direction so that they can plan effective strategies for growth. These consultants use expertise, industry experience and analysis to help their clients identify strategies that will increase revenue and market share by improving competitive advantage. Strategy consultants can help companies grow faster and increase the value of their business. Strategic consultants participate in initial meetings with the company's management team to establish the requirements of the consultancy project, prepare a proposal, and carry out research, analysis and assessment of growth scenarios and options. The independent perspective as a strategy consultant and the detailed recommendations in...