The corporate strategy helps managers understand the strategy question, "Where should the firm compete?". Corporate strategy defines the ultimate destination towards which a business should move. That decision forms all the strategies and operations in every other part of that business.
Through corporate strategy, a firm’s management can get a clear image of how to gain a competitive advantage in the business areas the firm operates in. Additionally, it also determines the businesses that should be in the first place. The corporate strategy will work to establish the overall value of the business, set strategic goals, and motivate employees to achieve them. It is a continuous process that must be carefully designed to respond appropriately to changing market conditions.
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