The Difference Between a Corporate Strategy and a Functional Strategy

question 30

Multiple Choice

The difference between a corporate strategy and a functional strategy is that:

• A)the former focuses on how a strategic business unit will compete in its product domain and the latter sets long-term direction for the total enterprise.
• B)the former sets long-term direction for the total enterprise and the latter guides activities within one specific area of operations.
• C)the former is concerned with formulating and implementing strategies while the latter is involved in crafting strategies to guide the allocation of resources.
• D)the former adopts standardized products and advertising for use worldwide and the latter seeks efficiencies of global operations with attention to local markets.
• E)the former adopts standardized products and advertising for use worldwide and the latter customizes products and advertising to best fit local needs.

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Definitions:

Indorsement

The act of signing one's name on the back of a check or other negotiable instrument, legally transferring ownership or authorizing a transaction.

Liability

The legal responsibility or obligation to compensate someone else for harm or damage caused by one's actions or failure to act.

Time Paper

Commercial paper or negotiable instruments, like promissory notes or bills of exchange, that have a specific maturity date.

Overdue

Referring to something, such as a payment or task, that has not been completed or paid by its due date.