Which of the following is a difference between a firm\'s corporate strategy and

Question

Which of the following is a difference between a firm's corporate strategy and its business strategy?

a. Unlike a firm's business strategy, its corporate strategy is viewed in terms of domain navigation. b. Unlike a firm's business strategy, its corporate strategy includes either low-cost strategies or differentiation strategies. c. Unlike a firm's business strategy, its corporate strategy includes the markets in which it will compete, against whom, and how. d. Unlike a firm's business strategy, its corporate strategy is more focused on how the firm will compete against rival firms to create value for customers.

Explanation / Answer

(a) is not correct because while corporate strategy as domain selection, business strategy is viewed in terms of domain navigation. (b) is not correct because low-cost strategies or differentiation strategies are forms of business strategy only. (d) is not correct because it is the business strategy which specifies how the firm will compete against rival firms.

(c) is the correct option because the corporate strategy is used to decide overall what the firm will do, in which market and to deal with what business i.e. compete with which firm.

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