Reference no: EM132873852

A business-level strategy refers to how a firm plans to achieve its objectives within a particular business. It generally answers the question as to how a business should compete and involves middle-level management. For example, Splash corporation, dealing with personal care products, would address its objectives within the nutraceuticals business by focusing on how it competes against other multinationals, e.g., Unilever, Procter & Gamble, etc. On the other hand, a corporate-level strategy focuses on what business to focus on, how to add value to a business's subsidiaries, and how to diversify to gain a competitive edge. Going with our example, Splash Corporation may acquire market intelligence through its health and beauty care retail outlets. Market intelligence can give Splash information on which brands are selling well, and some of those brands might be good targets for Splash to acquire as it did with the Hygienix brand line, antibacterial skin-care products. In general, corporate strategy deals with finding ways to create value by having two or more owned businesses cooperate and shared resources and normally involve the top management of an organization.

The common aspect between the two levels of strategies is that competition is the key factor. The business level of strategy must be well developed if the strategy's corporate level was to be reached at a higher phase of growth of a company. While the business-level strategy is bound within a particular type of business or product market, the corporate-level strategy goes beyond selecting and managing a mix of businesses competing in several industries or product markets.

What happens when strategic requirements change? What stakeholders need to be consulted? Who does and does not need to be involved? How should you track these changes?

Can you identify and describe some of these change management processes that are occurring around you in your industry or business?