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1LECTURE 4La Trobe UniversityMIB PROGRAMCORPORATE STRATEGYBusiness Level StrategyDrawn from Hitt – Ireland – Hoskisson‘Strategic Management’ – 7th Edition - Chapter 4& other sources of contemporary information“ We know what happens to people who stay in the middle of the road. They get run ”over.”- Aneurin Bevan(founder UK National Health Service)BUSINESS-LEVEL STRATEGY• Definition•An integrated and co-ordinated set of commitments and actions the organisation uses to gain a competitive advantage by exploiting core competencies in specific product markets.•OR (to put it another way)•How do we support the corporate strategy?•How do we compete in a specific business arena?
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