Corporate strategies are more important for the organization growth. It is helpful to reduce the competition level of the market. Corporate strategies provide the market knowledge and economic position. It describes competitor’s market position and their market policies. Along with this, competitive strategies are also helpful to identify the knowledge about the market opportunities and market threats (Kenny, 2012). It develops the information organization’s strength and weakness which is helpful to develop the business in the competitive market, core business areas and maintain the current competitive position.
Along with this, competitive strategy provides the right direction of the business growth to reduce the completion level in order to develop the profitability. On the other hand, corporate strategies can guarantee organization’s market reputation, public relations, customer attraction and make sure that organizational team understands competitive strategic issues and how to address these which would help to maintain market position with consistent level of success and corporate strategies (Lorange, 2011). Research and development, brand and Image Reputation, product innovation are core-areas of corporate strategy within all corporate strategy focus on the product development and innovation to reduce the competition level and improve the competitive advantage.