Corporate strategy is the pattern of major objectives, purposes, or goals and essential policies and plans for achieving those goals stated in such a way as to define what business the company is in or is to be in and the kind of company it is or is to be. In a changing world it is a way of expressing a persistent concept of the business so as to exclude some possible new activities and suggest entry into others.
Strategy can be defined as the determination of the long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals
Business strategy is the battleplan for a better future.
Good mission statements focus on a limited number of goals, stress the company’s major policies and values, and define the company’s major competitive scopes. These include:
Corporate strategy refers to the relationship between an enterprise and its environment. Strategy has two aspects. Strategic posture (or position) refers to an actual relationship between enterprise and environment at a specific point in time. Strategic plan refers to an intended future relationship; the plan consists of a set of corporate objectives and the proposed conditional action steps to be taken in order to reach those objectives.
Without competitors there would be no need for strategy, for the sole purpose of strategic planning is to enable the company to gain, as efficiently as possible, a sustainable edge over its competitors. Corporate strategy, thus, implies an attempt to alter a company's strength relative to that of its competitors in the most efficient way.
Strategy is about stretching limited resources to fit ambitious aspirations.