Corporate strategies provide direction when the company
enters new economic markets. The strategy determines
markets of the firms, customers and competitors.
1. Generally long-range in nature but valid for short-range situations also.
2. Action-oriented and more specific than objectives.
3. Multi-pronged and integrated.
4. Flexible and dynamic
5. Formulated at top management level with inputs from middle and lower level managers
6. Generally meant to deal with competitive and complex settings
7. Flows out of goals and objectives and is meant to turn them into realities.
8. Is concerned with perceiving opportunities and threats and seizing initiatives to cope with them.
9. Provides unified criteria for managers in function of decision making.