Mention the difference between corporate strategy and business strategy.

The major differences between corporate strategy and business strategy are as follows −

Corporate strategy

• 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.

Business strategy

• 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.