Abstract

This chapter outlines the role of corporate strategy in shaping the overall decisions such as business purposes, directions for business development endeavours and the importance of alignment of all strategic choices with the overall corporate strategy. It introduces the process of the strategic management cycle with the elements of strategy analysis, strategy choice and strategy implementation that aim to answer the important questions in terms of corporate strategy and market positioning such as “Who are we?”, “Where are we?”, “Where do we want to go?” and “How do we achieve this?”. It also provides a detailed description of some common instruments for strategy development such as PESTEL analysis, Porter’s Five Forces, SWOT analysis and core competencies analysis.