Question

As a level in the strategy-making hierarchy, corporate strategy Multiple choice question. is a broad plan for managing all businesses in a multibusiness company. is focused on achieving certain objectives in a single business owned by a multibusiness company. is developed by functional unit managers and operating managers. is a collection of strategic initiatives and actions devised by managers up and down the hierarchy.

Answer 1

is a broad plan for managing all businesses in a multibusiness company.

Step-by-step explanation:

A strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.

Generally, a business strategy or strategic plan sets the overall direction for an organization or business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.

As a level in the strategy-making hierarchy, corporate strategy is a broad clearly defined, long-term plan and vision established by business firms or organizations for managing all businesses in a multibusiness company i.e a company having numerous businesses in different locations.

The main purpose and importance of a corporate strategy is to create corporate value for a multibusiness company and motivate the employees to achieve set goals and objectives.