Answer:
is a broad plan for managing all businesses in a multibusiness company.
Explanation:
A strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.
Generally, a business strategy or strategic plan sets the overall direction for an organization or business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
As a level in the strategy-making hierarchy, corporate strategy is a broad clearly defined, long-term plan and vision established by business firms or organizations for managing all businesses in a multibusiness company i.e a company having numerous businesses in different locations.
The main purpose and importance of a corporate strategy is to create corporate value for a multibusiness company and motivate the employees to achieve set goals and objectives.
