There are three main types of strategic plans. The companys corporate strategy identifies the portfolio of businesses
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There are three main types of strategic plans. The company’s corporate strategy identifies the portfolio of businesses that in total comprise the company and includes diversification, vertical integration, consolidation, and geographic expansion. Each business needs a business level/competitive strategy: Differentiation and cost leadership are two examples. Finally, each individual business is composed of departments that require functional strategies. The latter identify the basic courses of action each department will pursue in order to help the business attain its strategic goals. LO9
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