Strategic Objectives and Levels of Strategy

Are the big-picture goals for the company: they describe what the company will do to try to fulfill its mission.

• Strategic objectives

• Business level strategy

• Corporate strategy

• International strategy

Is the framework a firm uses to organize its activities, and it is developed by the firm’s top managers. Examples of this strategies include cost leadership and differentiation.

• Strategic objectives

• Business level strategy

• Corporate strategy

• International strategy

Is the broadest level of strategy, and is concerned with decisions about growing, maintaining, or shrinking very large companies.

• Strategic objectives

• Business level strategy

• Corporate strategy

• International strategy

It is concerned with the large-scale actions involved in entering a brand-new geographic market.

• Strategic objectives

• Business level strategy

• Corporate strategy

• International strategy

Involves developing plans to increase the size of the firm in terms of revenue, market share, or geographic reach (often a combination of these, as they can overlap significantly).

• Growth strategy

• Stability strategy

• Defensive strategies

Is a strategy for a company to maintain its current income, market share, or geographic reach. A firm usually works to maintain a stable position when the alternative is to lose ground in one of those categories.

• Growth strategy

• Stability strategy

• Defensive strategies

A company that is struggling may decide to shrink its operations to reduce costs in order to survive.

• Growth strategy

• Stability strategy

• Defensive strategies