A. Corporate-level strategy seeks to determine what businesses a corporation should be in. B. Business-level strategy seeks to determine how a corporation should compete in each of its businesses. In doing this, it might need to create strategic business units which are defined as a single business or collection of businesses that is independent and formulates its own strategy. The strategic management process is an eight-step process encompassing strategic planning, implementation, and evaluation. Identifying the organization's current mission, objectives, and strategies.
Every organization has a mission that defines the purpose of the organization.
It should answer the question of what business or businesses are we in. A successful strategy is one that aligns well with the environment. After analyzing the environment, management can evaluate what opportunities it can exploit and threats that it faces. Analyzing the organization's resources involves looking at the organization's skills and resources. The analysis in step 4 should lead to a clear evaluation of the firm's strengths and weaknesses.