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- For all companies, defining a long-term vision linked to a clear mission allows them to effectively set and pursue robust vision-aligned strategies and objectives that outlast short-term challenges
- For diversified companies or those looking to diversify their activities, Corporate-level strategy also focuses on what business activities the company should be in and how it should manage/influence existing, or potential, business units in order to maximize overall shareholder value and potential business synergies
- As such, a Corporate-level strategy should ideally be done before business strategy to offer an overall strategic framework for existing and potential business units
- A corporate-level strategy exercise typically involves one or more of the following strategic management cycle activities:
- Defining (or validating) the corporate-level mission, vision and values and exploring the internal and external environment
- Setting corporate-level strategic objectives and identifying the viable strategic options
- Corporate-level strategy development, articulation and cascading with relevant KPIs
- Corporate-level performance monitoring and review
