Reference no: EM132191198
1. The difference between a corporate strategy and a functional strategy is that:
the former focuses on how a strategic business unit will compete in its product domain and the latter sets long-term direction for the total enterprise.
the former sets long-term direction for the total enterprise and the latter guides activities within one specific area of operations.
the former is concerned with formulating and implementing strategies while the latter is involved in crafting strategies to guide the allocation of resources.
the former adopts standardized products and advertising for use worldwide and the latter seeks efficiencies of global operations with attention to local markets.
the former adopts standardized products and advertising for use worldwide and the latter customizes products and advertising to best fit local needs.
2. Which of the following best describes a strategy?
It is a comprehensive plan guiding resource allocation to achieve long-term organization goals.
It is the same as the mission of the organization.
It is the document expressing the organization's reason for existence in society.
It is the predominant value system of the organization as a whole.
It is a special strength that gives an organization a competitive advantage.
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