Strategic Planning
Imagine that you are the CEO of Woolworths and you are having your annual meetings to make strategic decisions and formulate plans for the future.You need to consider several new potential business purchases and decide on how to best support the many diverse companies within the corporate family.
-Refer to Strategic Planning (Scenario).When you and the rest of the top-management team are deciding on whether you should purchase a hardware chain, a fast-food group or other food-related businesses (i.e.deciding on which types of businesses you should be in), this would be considered developing a ________ strategy.

Question

Quizplus · Accepted Answer

When making decisions about which types of businesses to be in and potential acquisitions, the CEO and top-management team are engaging in corporate-level strategy development. This involves making choices about the company's overall direction and scope, and how it can best allocate resources across its various business units or acquisitions. Functional strategies are more focused on specific activities or processes within a business unit, while strategic business unit and competitive-level strategies are more focused on how to compete within a specific market or industry. Global strategy would be relevant if the company was considering expanding into international markets.

Strategic Planning Imagine That You Are the CEO of Woolworths and You