Organizations assess the reality in which they currently exist and compete, and they use this information to formulate a corporate strategy. This activity is important because it is critical for managers to know which type of grand strategy fits best with their organization’s current realities.
The goal of this exercise is to challenge your knowledge of the three common grand strategies.
For each statement, select the type of corporate strategy that it best represents.
The research and development department and the marketing department make some alterations to a current product with the intention of attracting new customers.