Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help lila reply with a positive feedback on her friends discussion post, Understanding the difference between corporate strategy and business strategy is important for organizational

help lila reply with a positive feedback on her friends discussion post, Understanding the difference between corporate strategy and business strategy is important for organizational success. Corporate strategy provides the direction and resource allocation of the business, while business strategy focuses on competitive positioning within certain markets. Both parts are important for optimal performance. However, when it comes to connecting these strategies with HR deliverables it can be challenging due to cultural, skill, communication, and resource constraints. Addressing these challenges requires strategic HR management that is flexible, and responsive. Corporate strategy is more concerned with portfolio management like choosing which business to even start. Also, corporate strategy focuses on things like resource allocation, which is choosing where to put money for the business ie. "do we need a new building or do we need more supplies?" While Business strategies focus on our companies compete with each other in an industry. this focus is on things like how to make your product different from their competitors and how to stand out. The business is also concerned about the value of the product creates in the efficiency in which it's produced. Ideally, the business would want to reduce cost as much as

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Hospitality

Authors: John R Walker

6th Edition

013302430X, 9780133024302

More Books

Students also viewed these General Management questions

Question

What do you plan on doing upon receiving your graduate degree?

Answered: 1 week ago

Question

5. How can I help others in the network achieve their goals?

Answered: 1 week ago