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1. Profitability
2. Market share (gaining and holding specific share)
3. Human Talent (high quality worker)
4. Financial health
5. Cost efficiency
6. Product quality
7. Innovation
8. Social responsibility (positive contribution)

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1) Concentration
In a concentration growth strategy, you would focus resources in order to increase the vertical or horizontal participation in your respective market.

2) Diversification
When there’s little or no opportunity for growth in your original market, it’s time to diversify (or spread into new markets). You might choose to spread into a related market (concentric diversification) or into a market that is unrelated to your current niche (conglomerate diversification).

3) Forward Or Backward Integration
Another way to grow through a focused corporate level strategy is to harness the power of forward or backward integration.

In forward integration, you take steps to assume the role previously provided by one of your distributors (forward in the supply chain). That may mean building a warehouse and creating the infrastructure to sell to retailers or direct to end users.

In backward integration, you take steps to assume the role previously provided by one of your suppliers (backward in the supply chain). That may mean expanding existing production lines or implementing completely new ones to produce the parts you need to build your primary product.

Stability
4) No Change
If you’re happy with your business’s current position in the market, you may adopt a “no change” strategy. Continue doing what you’re doing, but plan for a time when you want to grow or retrench.

5) Profit
Business manager creating a corporate level strategy

Think of this strategy as stable profitability. Rather than growing to new markets, you would attempt to increase profits by:

Cutting costs
Selling assets
Raising the price of a product or service
Trimming non-core business components
6) Investigation
You would use a stable investigation strategy as an intermediary between the other extremes of corporate level strategy (growth and retrenchment). Think of it as testing the waters before committing to a specific strategy.

Retrenchment
7) Turnaround
Turnaround strategy emphasizes efficiency in an attempt to eliminate the weaknesses that are holding your company back (e.g., causing a product line to perform poorly).

8) Divestment
As a whole, management will put retrenchment corporate level strategies in place when the company is performing poorly. The goal of retrenchment, then, is to eliminate problems and improve how the business performs.

Divestment strategy (a.k.a. divestiture) involves selling off poorly performing assets (or even high-performing periphery assets) to raise capital for the core product or service. With a properly planned divestment strategy, you can get your business back on track and in the black once again.

9) Liquidation
Liquidation is a last-resort corporate level strategy. When everything else has failed to make the business profitable, you may choose to cease production, sell all your assets, and close the business completely.

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Functional strategies can be used to build a sustainable competitive advantage. It also can improve the efficiency, quality and consume responsiveness of its service

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1. Marketing

Efficiency – Reducing the overall cost of marketing

Quality – Improving the accuracy of customer and need assessment in market

Delivery – timely reaction to changing market and customer needs

2. Human Resources

Efficiency – Reduction in the expenditure of the onboarding employee process.

Quality – Minimize the employer by providing extensive technical training

Delivery – to conduct and regularise hiring and training of employees

3. Operations

Efficiency – minimize wastage of products

Quality – Improvement in overall production quality

Delivery – Reduce delay in demands

4. Purchase department

Efficiency – to negotiate the best price while purchasing

Quality – to appoint vendors and train them to become partners

Delivery – Avoiding extensive delivery and managing existing deliveries.

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Help your company to achieve the overall business goals and tell you what needs to be done and what ways. It gives you an overall view of the big picture, as well as the smaller details within your business.

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Matching your existing resources

Need to make the best use of what you have. And you don’t want to create strategies based on things you don’t have or can’t afford.

Measurable

Needs to be measurable so that you can monitor your progress and make adjustments accordingly.

While it’s important to track your progress closely, you need to measure aspects that reflect how you’re striving towards corporate-level strategies and business-level strategies.

If you try to measure everything, you’ll be overwhelmed with unnecessary data and information.

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1. Marketing strategy
2. Financial strategy
3. Production strategy
4. Logistics strategy
5. Research and development strategy
6. Human resource strategy

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Functional level strategies are the actions and goals assigned to various departments that support your business level strategy and corporate level strategy. These strategies specify the outcomes you want to see achieved from the daily operations of specific departments (or functions) of your business.

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Aligned with higher-level strategies

Need to align with corporate-level strategies and business-level strategies. They have to serve the main goals of your business.

Specific and actionable

While corporate-level strategies need to be broad, functional-level strategies are much more detailed. The tactics, goals, and steps need to be specific and actionable. You may need particular metrics to measure the success of each step.

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Determine daily operations in each team/department in a business