MIB CST Lecture 4 - La Trobe University MIB PROGRAM...

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1 LECTURE 4 La Trobe University MIB PROGRAM CORPORATE STRATEGY Business Level Strategy Drawn 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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