Strategy < ILMAM

Business strategy focuses on competitive as well as specific and more immediate business opportunities and/or challenges that impact a standalone business or a business unit of a diversified company
The overall business strategy should be aligned with the corporate-level strategy and key strategic drivers (mission, vision, etc.) in a top-down manner
In some cases, however, business level strategies may uncover opportunities and/or challenges that justify revisiting the corporate-level strategy
A typical business strategy exercise typically involves one or more of the following strategic management cycle activities:
- Defining (or validating) the business-level mission, vision and values and exploring the current/potential portfolio attractiveness and synergies
- Setting business-level strategic objectives and identifying the viable strategic options
- Business-level strategy development and articulation with targets, key initiatives and relevant KPIs
- Business-level performance monitoring and review

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

Strategy