21⟩ How much forward-looking corporate strategy?
A solid corporate strategy appropriately anticipates risk, uncertainty and optional.
“Corporate Strategy Interview Questions and Answers will guide us now that Corporate strategy refers to the overarching strategy of the diversified firm. Such a corporate strategy answers the questions of "which businesses should we be in?" and "how does being in these businesses create synergy and/or add to the competitive advantage of the corporation as a whole?" So learn more about Corporate Strategy Capability with the help of this Corporate Strategy Interview Questions with Answers guide”
A solid corporate strategy appropriately anticipates risk, uncertainty and optional.
In developing a corporate strategy, companies should consider long cycles and macro-trends while ensuring their plan is resilient and adaptive in times of turbulence.
Building commitment is the implementation imperative. I will offer a menu of techniques to foster commitment to achieving shared goals. Or, if rewarding self-interest is more appropriate for your business, I will explore alternative approaches you should employ.
* A) The nearest geographical competitor
* B) The competitor who is 'best in class' wherever that may be.
* C) The competitor who is the best in the industry
* D) The nearest principal competitor
B) The competitor who is 'best in class' wherever that may be
Corporate strategy needs to effectively allocate resources to the best investment opportunities, drive performance and raise expectations internally and externally, improve a company's competitive position and add value beyond the sum of its parts.
It's your job to ensure that your managers are tracking the right things by singling out those variables that spell the difference between strategic success and failure. Like the preceding two questions, the focus in this question is again on an adjective, this time the word critical.
Prioritizing core values should be the second pillar of your business strategy. For some companies, shareholders come first. For others, it may be employees. In other companies, it may be customers. There is no right or wrong, but choosing is necessary.