/ Define corporate strategy and describe the three dimensions along which it is assessed.
■ Corporate strategy addresses “where to compete.” Business strategy addresses “how to compete.”
■ Corporate strategy concerns the boundaries of the firm along three dimensions: (1) industry value chain, (2) products and services, and (3) geography (regional, national, or global markets).
■ To gain and sustain competitive advantage, any corporate strategy must support and strengthen a firm’s strategic position, regardless of whether it is a differentiation, cost-leadership, or blue ocean strategy.
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