Lecture

Corporate Strategy: Introduction

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In course

MGT-400: Corporate strategy

Why are some firms more successful than others? This is the fundamental question of strategy. The course aims to familiarize the student with the most important themes relevant for corporate strategy. We will take the a top management perspective to better ...

Description

This lecture introduces the fundamentals of corporate strategy, covering topics such as the definition of strategy, the importance of strategy in firms, and the different levels of strategy. The instructor, Dr. Katherine Tatarinov, provides insights into the origins of strategy, the alignment of key terms like vision, mission, and strategy, and the evaluation and selection of strategies. Students will learn about the link between a firm and its environment, successful firm indicators, and the course objectives. The session also includes interactive activities, case study discussions, and details about the continuous assessment grading system.

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Related concepts (32)

Military strategy

Military strategy is a set of ideas implemented by military organizations to pursue desired strategic goals. Derived from the Greek word strategos, the term strategy, when first used during the 18th century, was seen in its narrow sense as the "art of the general", or "the art of arrangement" of troops. and deals with the planning and conduct of campaigns, the movement and disposition of forces, and the deception of the enemy. The father of Western modern strategic studies, Carl von Clausewitz (1780–1831), defined military strategy as "the employment of battles to gain the end of war.

Business

Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions.

Market environment

Market environment and business environment are marketing terms that refer to factors and forces that affect a firm's ability to build and maintain successful customer relationships. The business environment has been defined as "the totality of physical and social factors that are taken directly into consideration in the decision-making behaviour of individuals in the organisation." The three levels of the environment are as follows: Internal environment – the internal elements of the organisation used to create, communicate and deliver market offerings.

Operational level of war

In the field of military theory, the operational level of war (also called operational art, as derived from оперативное искусство, or operational warfare) represents the level of command that connects the details of tactics with the goals of strategy. In Joint U.S. military doctrine, operational art is "the cognitive approach by commanders and staffs—supported by their skill, knowledge, experience, creativity, and judgment—to develop strategies, campaigns, and operations to organize and employ military forces by integrating ends, ways, and means.

Business architecture

In the business sector, business architecture is a discipline that "represents holistic, multidimensional business views of: capabilities, end‐to‐end value delivery, information, and organizational structure; and the relationships among these business views and strategies, products, policies, initiatives, and stakeholders." In application, business architecture provides a bridge between an enterprise business model and enterprise strategy on one side, and the business functionality of the enterprise on the other side.

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