Strategic Management: Concepts by Rothaermel Frank

Author:Rothaermel, Frank [Rothaermel, Frank]
Language: eng
Format: epub
Publisher: McGraw-Hill Higher Education -A
Published: 2012-05-17T22:00:00+00:00

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corporate-level strategy The decisions that senior management makes and the actions it takes in the quest for competitive advantage in several industries and markets simultaneously; addresses where to compete.

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As discussed in Chapter 6, the two generic business strategies that firms can pursue in their quest for competitive advantage are to: increase differentiation (while containing cost) or lower costs (while maintaining differentiation). If trade-offs can be reconciled, some firms might be able to pursue an integration strategy by increasing differentiation and lowering costs. To gain and sustain competitive advantage, therefore, any corporate strategy must align with and strengthen a firm's business strategy, whether it is differentiation, cost leadership, or an integration strategy.

Corporate strategy concerns the scope of the firm,4 which determines the boundaries of the firm along three dimensions: industry value chain, products and services, and geography (regional, national, or global markets). To determine these boundaries, executives must decide:

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