which of the following statements concerning the relationship among corporate, business, and functional strategies is correct? functional strategies guide the development of corporate strategies, which guide the development of business strategies corporate strategies guide the development of functional strategies, which guide the development of business strategies business strategies guide the development of corporate strategies, which guide the development of functional strategies corporate strategies guide the development of business strategies, which guide the development of functional strategies
corporate strategies guide the development of business strategies, which guide the development of functional strategies.
What is the relationship between business strategy and corporate strategy?
A corporate strategy focuses on the markets a company wants to enter and the companies it wants to compete with, whereas a business strategy focuses on how a company plans to compete in a market.
The long-term objectives of your company are its corporate strategy. Each department should have a business plan based on the corporate objectives if your company is large enough to have separate departments. The functional strategy is a thorough roadmap for achieving the organization's objectives.
The corporate objectives are at the top of the hierarchy of goals. These are the goals that the company as a whole is attempting to accomplish.
