Q1. Define the terms ‘strategy’. Explain the following: a) Corporate strategy b) Business strategy c) Functional strategy (Definition of Strategy, Explanation of Corporate strategy, Explanation of Business strategy, Explanation of Functional strategy) 1, 3, 3, 3
Answer:
Strategy
“The art and science of planning and marshalling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army. See also tactics.”
Strategy means the grand plan and the term is borrowed from the military which distinguished between the grand
