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Corporate strategy - Coggle Diagram
Corporate strategy
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A long-term plan that outlines clear goals for a company. While the objective of each goal may differ, the ultimate purpose of a corporate strategy is to improve the company.
It’s comprised of three basic strategies, namely the “Cost Leadership Strategy,” “Differentiation Strategy” and “Focus Strategy.” Porter indicated that every company or organization should only pursue one of these strategies or risk wasting company resources in a futile attempt to grow the business fast.
