Corporate Level Strategy Essay Example | Topics and Well Written Essays - 500 words

Corporate Level Strategy - Essay Example However, for a department like Police, a portfolio approach will be relatively better suited. Both the approaches towards corporate strategy requires a very well thought out approach towards viewing organization amid the competition it faces in the market place. It is however, important to understand that not all firms and organizations are established for competitive purposes as public sector organizations have to actually fulfill certain responsibilities without any commercial consideration. Organizations like Police Department therefore don’t focus on maximizing the profits as most commercial organizations do however, to work efficiently and effectively, it is important that such organizations also maintain a strategic outlook. Portfolio approach to corporate strategy may focus on achieving financial synergy while allowing business units to operate independently however, it is also important for allowing business units to operate on their own. The challenge for management however is to ensure that all the business units operate according to overall corporate strategy of the firm and overall execution of strategy remains well intact. Portfolio approach for a department like Police will be a relatively better approach because Police department, as a whole, works in different units. Not all units are assigned the same roles and responsibilities however, a close integration of all the departments is considered as necessary. However, various departments also need to ensure that they operate on their own to fulfill their strategic role while at the same time maintaining required synergy. Core competencies approach is relatively strong approach however this may not be suitable for a department like Police. Core Competencies approach requires that organization generate and maintain its core competencies across the whole organization. Each department and business unit therefore is required to ensure that organizational