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  PowerPoint Presentation by Charlie Cook The University of West Alabama Strategic Management   Competitiveness and Globalization: Concepts and Cases    Michael A. Hitt ã  R. Duane Ireland ã  Robert E. Hoskisson Seventh edition S TRATEGIC A CTIONS: S TRATEGY F ORMULATION ©  2007 Thomson/South-Western. All rights reserved. CHAPTER 6   Strategy at the Corporate Level   Management of Strategy Concepts and Cases   © 2007 Thomson/South-Western. All rights reserved. 6  – 2 K  NOWLEDGE  O BJECTIVES 1.Define corporate-level strategy and discuss its purpose. 2.Describe different levels of diversification with different corporate-level strategies. 3.Explain three primary reasons firms diversify. 4.Describe how firms can create value by using a related diversification strategy. 5.Explain the two ways value can be created with an unrelated diversification strategy. 6.Discuss the incentives and resources that encourage diversification. 7.Describe motives that can encourage managers to overdiversify a firm. Studying this chapter should provide you with the strategic management knowledge needed to:   © 2007 Thomson/South-Western. All rights reserved. 6  – 3 The Role of Diversification ã Diversification strategies play a major role in the behavior of large firms. ã Product diversification concerns:  The scope of the industries and markets in which the firm competes.  How managers buy, create and sell different businesses to match skills and strengths with opportunities presented to the firm.   © 2007 Thomson/South-Western. All rights reserved. 6  – 4 Two Strategy Levels   ã Business-level Strategy (Competitive)  Each business unit in a diversified firm chooses a business-level strategy as its means of competing in individual product markets. ã Corporate-level Strategy (Companywide)  Specifies actions taken by the firm to gain a competitive advantage by selecting and managing a group of different businesses competing in several industries and product markets.
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