Evaluation of the Strategic Fit between Business and Corporate Strategies

Evaluation of the Strategic Fit between Business and Corporate Strategies

In the realm of software companies and businesses, the pursuit of strategies is imperative to achieve their objectives. In striving for tremendous success and enhanced competitiveness in the market, these entities often rely on two prevalent strategies: the business strategy and the corporate strategy. These strategies exhibit commonalities and distinctions, yet they can collaboratively serve Vengile Soft’s quest for enhanced performance and profitability (Chow et al., 2023).

The business strategy, for instance, is dedicated to orchestrating efforts to attract a broader customer base from global markets, thereby gaining a distinct selling advantage. This strategy is intricately linked to generating profits by providing high-quality products, ultimately bolstering the company’s competitiveness within its market. The specific objectives of the business strategy encompass:

• Attracting and acquiring new customers.
• Elevating customer satisfaction.
• Enhancing overall profitability.

On the other hand, the corporate strategy within the organization takes a different trajectory by assisting managers in clarifying their mission, defining business goals, and plotting the course to attain them. It also encompasses formulating a learning strategy and discerning how and where learning initiatives can profoundly impact the organization’s workforce. The learning strategy plays a pivotal role in the corporate strategy, enabling managers to steer the organization toward the future achievement of business goals (Chow et al., 2023).

In this context, the corporate strategy empowers the organization to make optimal product choices and extend them to a global customer base, signifying the direct support provided by key business executives to their workforce.

References

Chow, D., Hardi Suandri, Herman, H., Prissilia Angelika, & Ricky, R. (2023). Meningkatkan Keunggulan Kompetitif dengan Memilih Strategi Tingkat Bisnis yang Tepat. Public Service and Governance Journal, 4(1), 116–123.

https://doi.org/10.56444/psgj.v4i1.816

Karanina, E., Ilysheva, N. N., & Bulgakova, K. V. (2023). Features of the human capital management strategy during the transition to new digital technologies at a large industrial enterprise. Èkonomika I Upravlenie: Problemy, Rešeniâ, 1/3(133), 25–32.

https://doi.org/10.36871/ek.up.p.r.2023.01.03.003

Krasavina, V., Platonovskiy, N., & Ibiev, G. (2023). Аgile as a wave of digital transformation. E3S Web of Conferences, 389, 07018.

https://doi.org/10.1051/e3sconf/202338907018

Larbi, G. M. (2019). A Try to combine more than approaches and competitive strategies to achieve a sustainable competitive advantage. Journal of Economics and Administrative Sciences, 25(116), 147–163.