Abstract

More and more companies are coming to realize the significance of a suitable corporate strategy to the continued prosperity of their enterprises. The best approaches to the development of a corporate strategy, however, are not clear. In this article the author wants to say a few words about the meaning of strategy, to illustrate two current major forces that underscore the necessity for skillfully developed company strategies, and then to examine three key factors of great importance in developing an aggressive corporate strategy. Corporate strategy fundamentally is the deployment of resources to achieve an objective. It refers to an important action, which can be taken with respect to any aspect of a business. Defining the degree of emphasis on growth requires serious consideration by the board of directors. Today the boards of most major companies have opted for the strongest growth plan they can generate, rather than a limited rate of growth coupled with apprehensive looks over the corporate shoulder. This drive for performance results is, in fact, one of the most vital by-products of the competitively oriented free enterprise system.