Strategy and Implementation 0.0 / 5 ? Business StudiesBusiness PlansA2/A-levelWJEC Created by: Joebarlow_10Created on: 31-05-19 14:29 What is Corporate level strategy concerned with? Strategic decisions a business makes that affect the entire business. It is involved with setting objectives for overall financial performance. 1 of 12 Define a strategic direction? A course of action that ultimately leads to the achievement of the stated goals of the corporate strategy. 2 of 12 WHta will a strategic plan predominantly contain? A clear Mission statement and the businesses objectives. 3 of 12 Define a corporate plan? It is a statement of organisational goals to be achieved in the in the medium to long-term. 4 of 12 What will a corporate plan be based upon? Management assessments of market opportunities, economic scenarios and resources and technology available. 5 of 12 Define divisional strategy? it is concerned with directing the divisions within the organisations. 6 of 12 How is a divisional strategy structured to meet demands set? the strategies are structured so that they're tailored to meet the demands required. 7 of 12 Define Tactical decision? They're medium term decisions stimulated by middle managers. 8 of 12 Which type of decision does tactical decisions follow on from? Follow on from strategic decisions and aim to meet the objectives stated in a strategic plan. 9 of 12 Give an example of tactical decision? increase in output is the strategic decision but in order to complete this recruitment would be a tactical decision. 10 of 12 define functional strategy? Relates to a single functional operation like production and the activities involved within each of these functions. 11 of 12 How are functional strategy methods made? they're guided and limited by higher level corporate and divisional strategies. 12 of 12
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