Primary navigation:

QFINANCE Quick Links
QFINANCE Reference
Add the QFINANCE search widget to your website

Home > QFINANCE Dictionary > Definition of corporate strategy

Definition of

corporate strategy

General Management

firm's plans for future the direction an organization takes with the objective of achieving business success in the long term. Recent approaches have focused on the need for companies to adapt to and anticipate changes in the business environment. The formulation of corporate strategy involves establishing the purpose and scope of the organization's activities and the nature of the business it is in, taking the environment in which it operates, its position in the marketplace, and the competition it faces into consideration.

Recommended Further Reading (Term count)
  • Internal Audit and Partnering with Senior Management
    by Bruce Turner
    “The internal audit function has evolved from corporate cop to that of a savvy in-house consulting service.”1Internal auditing in the twenty-first century imposes even greater demands on the professional internal audit staff, whose role has expanded to combine both an assurance and a consulting service to management. Internal audit charters have been broadened considerably to reflect these demands.The chief executive of the Institute of Internal...
  • Dangers of Corporate Derivative Transactions
    by David Shimko
    It’s easy for managers to overlook risks. Financial risk managers may ignore nonfinancial risks. Business managers responsible for a particular line item (such as costs) may downplay risks unrelated to their particular line item. Firms often manage their risks compartmentally—for example: the treasury department for foreign exchange and interest rates; the procurement department for commodity purchases; and the insurance department for...
  • C. K. Prahalad
    Influential thinker on competition and innovation
    C. K. Prahalad is an important figure in the development of management strategy, as well as a professor of corporate strategy, writer, and consultant. He studied at the Indian Institute of Management, before completing his MBA, and then his DBA at Harvard. He was cofounder and CEO of Praja Inc, a software company sold to TIBCO, in the US, in 2002. He is also a member of the blue ribbon commission of the United Nations on Private Sector and...
  • Aligning the Internal Audit Function with Strategic Objectives
    by Ilias G. Basioudis
    Given today’s complex and rapidly changing management climate, companies must implement continuous improvements to achieve efficiency, and assure investors and other concerned parties of solid corporate governance.The recent scandals at Enron, Worldcom, Parmalat, and others have raised the profile of corporate governance across the globe. Trust in the process of financial accounting, corporate governance, and auditing has been undermined by...

Definitions of ’corporate strategy’ and meaning of ’corporate strategy’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’corporate strategy’ and other financial terms with our online QFINANCE Financial Dictionary.

Back to top