WK 3 - DQ 7 - believe the main reason this strategy is...

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MGT/498 – Strategic Management University of Phoenix Professor:  TUGTEKIN GOKAYDIN Katie Williams 12/18/2011 Week 3 – Assignments Discussion Question #7 : "Corporate Strategy" What is corporate strategy? Why it is important for a small business to identify a corproate  strategy? From what I understand from our past readings for this class and past classes I have  taken. I would have to say this question is relitivley easy to answer. Let us start with stating the    strategy is primarily about the choice of direction for a firm as a whole and the management of   its business or product portfolio."  Now that we know what corporate strategy stands for in the  eyes of Wheelen and Hunger, let us move on to defining its importance in the business world. I 
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Unformatted text preview: believe the main reason this strategy is important in businesses wheather they are small or large is because this partiuclar strategy involves the decision making in regards to the cash flow or financial resources within a company. Futhermore, this strategy also deals with the product lines and business units within a business as well. I think it is important to each business to make sure they use this strategy correctly to receive the proper outcome. References: Wheelen, T. L., & Hunger, J. D. (2010). Concepts in Strategic Management and Business Policy: Achieving Sustainability (12th ed.). Upper Saddle River, NJ: Prentice Hall....
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