How To Write
Corporate Strategies - Defined
A corporate strategy is a set of specific plans of action that an organization must implement in order to achieve its goals and objectives in pursuit of attaining its overall corporate mission.
A corporate strategy can be seen as an organization's response to its operating environment over time. Strategies are carefully monitored, and frequently reviewed and adjusted to ensure that they continue to achieve desired results in support of an organization's mission and objectives.
A strategy is the actual conversion of an organization's objectives and goals into the actual deployment of human and financial resources over a specified time period.
Strategies are normally implemented through the development and implementation of detailed workplans.
For example, for the following corporate objective:
"To develop and implement a new methodology for carbon emission trading in the international aviation industry".
A strategy could be the development of a step-by-step workplan that would result in the specific achievement of that corporate objective.
Another example for a different type of corporate objective:
"To manage our financial portfolios so that they earn a minimum of 7% annual return for our investor clients."
Rather than a detailed workplan; in this case, a specific strategy called "Prudent Investment Review" could be implemented to ensure that all potential investment proposals meet certain pre-specified criteria before being accepted.
In summary, strategies are where "the rubber hits the road". They are the essential basic elements in the chain of events that will ultimately result in the organization achieving overall corporate mission.
Corporate strategies should be summarized in two or three sentences. However, they will usually be broken down into detailed implementation plans that define specific tasks, resources assigned, and timelines.
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