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in a very brief,
Corporate Starategy Decisions: are covering all the organization's activities.
Business Strategy Decisions: are covering only a particular activity or business unit.
Strategic control is a term used to describe the process used by organizations to control the formation and execution of strategic plans; it is a specialised form of management control, and differs from other forms of management control (in particular from operational control) in respects of its need to handle business.
Strategic decisions are long term, complex decisions made by senior management. ... Tactical decisions are medium term, less complex decisions made by middle managers. They follow on from strategic decisions and aim to meet the objectives stated in any strategic decision.
Business Strategy decisions enables Intelligent & Data-Driven Decision Making. Business strategy involves answering the question: "How shall we compete in this business? ... environment in which the organization operates, then making a series of strategic decisions about how the organization will compete.
It’s impossible to discuss corporate strategy decisions in any depth without acknowledging that professional advisers play a significant role, and often an overly dominant one. Corporate strategists’ heavy reliance on advisers may be the nature of the beast, but it becomes a concern when leaders cannot engage knowledgeably with consultants, investment bankers, etc. After all, experts come equipped with their own biases and lapses in knowledge, and indeed their own agendas. Left unchallenged, they can become like the magician who forces you to pick the card he wants you to pick. Of course, the strategic sophistication of an individual leader or team is never all-encompassing. But strategists can get a better handle on the entire range of alternatives available to them, if they learn to ask the right questions.
In fact, all corporate strategy decisions boil down to just a few key alternatives, with underlying trade-offs in mind. The right answer in a particular case can only come from analysing firm-specific factors such as the nature of synergies, how long investments take to mature, and contracting challenges
Corporate strategy decisions are often made in stressful, compromised circumstances. Political pressures from higher-ups, rivalries across departments, and compressed timeframes can lead to rushed or muddled decision making. Even so, having a benchmark for how decisions would be made in an ideal world can help strategists stay focused despite the instability.
Corporate level strategy is concerned with the strategic decisions a business makes that affect the entire organization. Financial performance, mergers and acquisitions, human resource management and the allocation of resources are considered part of corporate level strategy.
A business strategy creates a vision and direction for the whole organisation. It is important that all people within a company have clear goals and are following the direction, or mission of the organisation. A strategy can provide this vision and prevent individuals from losing sight of their company's aims
In sum, from a substantive perspective, better corporate strategy is about making sure that you have weighed the most likely alternatives in a logical manner. From a process perspective, it is about engaging with enough people in the organisation to be confident that you’ve extracted the best, most complete information available, and that your decision is widely accepted as being both appropriate and fair.
I tend to agree with Mr. Mohammed Yassin.
Hello,
below is a simple explanation of both terminologies with the relation ship between them, this a published article by Scott Smith
Business Strategy
The decisions a company makes on its way to creating, maintaining and using its competitive advantages are business-level strategies. After evaluating the company’s product line, target market and competition, a small business owner can better identify where her competitive advantage lies. A gourmet candy company, for example, might find that it cannot compete on price; larger corporations often enjoy economies of scale that keep costs low. Instead, the small business would choose a differentiation strategy, emphasizing freshness, quality ingredients or some other attribute consumers will value highly enough to pay extra. Business strategy will affect the small company’s functional decisions such as the selection of its promotions and distribution channels.
Corporate Strategy
When a business identifies opportunities outside its original industry, it might contemplate diversification. When additional businesses become part of the company, the small business owner must consider corporate-level strategy. To be effective, the umbrella company must contribute to the efficiency, profitability and competitive advantage to each business unit. The gourmet candy maker may decide to enter the dried-fruit business, for example. This corporate decision is sound only if the parent company can extend and develop a competitive advantage – say economy of scope, integrated management or procurement – over both businesses. For example, the owner may determine that her mail-order candy distribution system is perfectly suited for the dried-fruit business and that customer research indicates existing customers will purchase items from both companies. Or she may be able to negotiate volume discounts for raisins, dried cranberries and dried cherries she will use in both businesses.
Diversification
Often the most important corporate strategy decisions are whether to diversify and if so, how? Any new products or services must offer potentially lucrative returns, must not present unduly high cost of entry and must give the company a strategic advantage. If a business in a new industry meets these qualifications, the company may increase profits by executing a strategy to diversify.
Putting it together
Corporate and business strategies work together and influence each other in an effort to make the business units and the corporation successful. Small businesses engaged in a single industry already have made the only corporate-level strategic decision they have – which industry to join. Small businesses contemplating diversification, on the other hand, face a raft of additional corporate-strategy decisions, as well as business-level decisions for the new business unit, should it decide to diversify. Our start-up candy maker’s corporate decision was to enter the confectionery market. Her business decisions were based on how to compete, which in turn influence her operational strategies concerning distribution, manufacturing, promotion, price etc.. When she diversifies, the addition of another unit necessitates business-level decisions for the new unit. But it may also require a rethinking of the original candy making operation’s business strategy.
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