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Mention the difference between corporate strategy and business strategy.
The major differences between corporate strategy and business strategy are as follows −
It helps the business to operate a whole organisation.
Its main aim is to elevate profits and making company grow faster.
It is formed by top level management.
It deals with operations of total business organisation.
It is long term strategy.
It is formulated at organisation level.
Examples − expansion, etc.
It is concerned with ameliorating the overall performance of an organisation.
Its main aim is to compete with other products in the market.
It is developed by middle level management.
It deals with particular unit/division of a business.
It is short term strategy.
It is formulated for a particular business unit.
Example − cost leadership etc.
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