- Corporate strategy: top most level of strategy making in the organisation. They usually deal with basic questions such as how to create a value for the entire organisation. Decisions concerning scope and direction of an organisation.
- Business level strategy: It deals with questions like how to achieve a competitive advantage in each business in which the organisation is engaged. It is concerned with the development of the strategy for a single business organisation.
- Functional level strategy: at the functional level, specific strategies are made for the functional activities of the organisation and are usually within a short period of time. Production, marketing, purchase, finance, hr, R&D and the like.
Therefore, strategies are likely to be:
- Complex in nature.
- Be made in situations of uncertainty.
- Affect operational decisions.
- Require an integrated approach.
- Involve considerable change.