New NABARD Workshop - Last 4 year trend. March 5 at 5 PM. Register here

    Question

    Which of the following strategy is made by the senior

    most management in large corporates?
    A Corporate strategy Correct Answer Incorrect Answer
    B Business Strategy Correct Answer Incorrect Answer
    C Functional Strategy Correct Answer Incorrect Answer
    D Operational Strategy Correct Answer Incorrect Answer
    E Competitive strategy Correct Answer Incorrect Answer

    Solution

    Strategy is at the foundation of every decision that has to be made within an organization. · Corporate Strategy - It is about selecting an optimal set of businesses and determining how they should be integrated into a corporate whole. Typically, major investment and divestment decisions are made at this level by top management. · Business level strategy or competitive strategy - business-level strategy is aimed at gaining a competitive advantage by offering true value for customers while being a unique and hard-to-imitate player within the competitive landscape. These are also done at top level but below corporate strategy. · Functional strategy - These strategies are often aimed at improving the effectiveness of a company’s operations within departments. Within these department, workers often refer to their ‘Marketing Strategy’, ‘Human Resource Strategy’, etc. · Operational strategy - It gives form to the operating units of an organization.An operating strategy is put across at the field level, usually to achieve on-hand objectives.

    Practice Next

    Relevant for Exams: