• Corporate Level Strategy: Designing the company’s vision and mission as well as selecting the primary business activity, products, and markets to enter.
• Business Unit Strategy: Determining business lines and divisions, how to deal with competition, profit centers, geographical differences and the implementation of technological advancements.
• Functional Level Strategy: Figuring out the marketing, finance, research and production processes.
• Operational Strategy: How each part of the business is organized to deliver the corporate and business-unit level strategic direction and functional strategies. Operational strategy deals with the four building blocks of business: Processes, People, Customers, and Resources. To learn more about operational strategy visit our past article "Four Building Blocks of Business" by clickinghere.
Successful businesses have clear, written goals for each of the strategy levels. This not only reduces confusion on the direction the business is headed, but it helps management make important business decisions. Which level do you think is most important for your business? Let us know in the comments!
