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To understand how strategies shift, we'll look at the strategy levels that exist and how an organization can apply them.Ultimately, the biggest take away we hope you get from this post, is that strategy is for everyone.
Your marketing strategy, finance, IT, operations and other departments, all have goals and responsibilities to deliver and having a visible functional level of strategy that aligns back to the overall corporate strategy, will increase the chances of success.
In this scenario, having a functional level is just as important (sometimes more so).
In simple terms, this is the strategy that will inform the day to day work of employees and will ultimately keep your organization moving in the right direction.
The functional strategy level is probably the most important level of strategy.
Like any business, strategy comes in various shapes and sizes.
The strategy for a multi-national company will contrast one from a startup, yet the principles remain.Strategies at the business level should be constructed by the heads of business units and other middle managers within each unit.Including a range of managers from each unit to participate in the strategy process is important for a few reasons: If your organization only has one business unit, you don't need to worry about this strategy level - and can skip to the functional strategy level.A corporate strategic plan will generally encompass: The corporate strategic plan decides the markets the organization should compete in, which then directs the creation of business unit level strategy and the functional-level strategies.These strategies, in turn, will guide the downstream decisions made by employees of all levels.No organization is too small nor large to define what they want to achieve, and how they will do it.Here at Cascade, we've used our own strategic planning and execution software to create our corporate strategic plan.Therefore, every decision/action made in the organization should directly or indirectly contribute to the corporate objectives in the strategy, directly or indirectly.If the importance of corporate strategy isn't yet clear, let's make sure it is - every organization needs a corporate strategy.We're going to discuss 3 key strategy levels, how they differentiate and provide some context on how to use them: Corporate strategies are the ‘top’ level of strategy in an organization.The corporate strategy will define the overall direction the organization will move in and the high-level plans of how.