A corporate strategy is a strategy implemented by a corporation for achieving a particular overall goal. The development of a corporate strategy most often involves a three part process. The first part of the process of corporate development of a corporate strategy involves a survey of the important factors involved in that company’s development and functioning, such that a good corporate strategy can be formed.
The second part of the process involves establishing the exact goal for the corporate strategy, which can in part be based upon the information gathered in the first part, but should primarily indicate the direction in which those in charge of corporate strategy and corporate development would like to take the company.
The third part of the process involves actually using the resources of the corporation in order to achieve the goal established in the second step by using the information garnered in the first step appropriately. This form of corporate development of a new corporate strategy will help direct a corporation towards whatever goals or outcome its leaders desire.
A corporate strategy should very much be understood as inhabiting a different space than a tactical plan. A corporate strategy is primarily aimed at an overarching goal for corporate development and is not aimed at clear specific particulars, although the exact scope of a corporate strategy will likely vary depending upon the size of the corporation in question. A tactical plan, on the other hand, is often a much smaller plan for implementation, possibly simply to achieve one of the steps on the path to achieving the overall corporate strategy goal for corporate development.