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Strategy Formulation:

Corporate Strategy

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Corporate Strategy

Three Key Issues:


• Firm’s directional strategy


• Firm’s portfolio strategy
• Firm’s parenting strategy

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Corporate Directional
Strategies

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Corporate Strategy

Directional Strategy:

– Orientation toward growth


• Expand, cut back, status quo?
• Concentrate within current industry,
diversify into other industries?
• Growth and expansion through
internal development or
acquisitions, mergers, or strategic
alliances?

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Corporate Strategy

Directional Strategy:

– Three Grand Strategies:


• Growth strategies
• Stability strategies
• Retrenchment strategies

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Corporate Strategy
Growth Strategies:

– Most widely pursued strategies


– External mechanisms:
• Mergers
– Transaction involving two or more firms
in which stock is exchanged but only
one firm survives.
• Acquisition
– Purchase of a firm that is absorbed as an
operating subsidiary of the acquiring
firm.
• Strategic Alliance
– Partnership of two or more firms to
achieve strategically significant
objectives that are mutually beneficial.

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Corporate Strategy

2 Basic Growth Strategies:


– Concentration
– Current product line in one industry

– Diversification
– Into other product lines in other
industries

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Corporate Strategy

Basic Concentration Strategies:


– Vertical growth

– Horizontal growth

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Corporate Strategy
 Concentration:

 Vertical growth

– Vertical integration
• Full integration
• Taper integration
• Quasi-integration

– Backward integration

– Forward integration

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Corporate Strategy

 Concentration:

 Horizontal Growth

– Horizontal integration

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Corporate Strategy

 Basic Diversification Strategies:



– Concentric Diversification

– Conglomerate Diversification

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Corporate Strategy

 Diversification:

 Concentric:

– Growth into related industry
– Search for synergies

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Corporate Strategy

 Diversification:

 Conglomerate:

– Growth into unrelated industry
– Concern with financial
considerations

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Corporate Strategy

Exporting
Licensing
Franchising
Internat Joint Ventures
ional Acquisitions
Entry Green-Field
Options Development
Production Sharing
Turnkey Operations
BOT Concept
Management Contracts

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Corporate Strategy

Stability Strategies:

– Pause/proceed with caution



– No change

– Profit strategies

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Corporate Strategy
Retrenchment Strategies:

– Turnaround

– Captive Company Strategy

– Selling out

– Bankruptcy

– Liquidation
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