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Corporate Level Strategies : Strategic Management

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Corporate-Level Strategies As part of strategic management, a thorough analysis must be conducted by top-level managers to assess current business performance and to determine potential for growth. Corporate leaders create value for their businesses using three main approaches: expansion (diversification) within the industry or markets, concentration, and vertical integration. Diversification can either be related or unrelated. It is the responsibility of corporate leaders to set the firm’s strategic direction through mission and vision; develop a corporate-level strategy; select and manage its business portfolio; determine its diversification and growth strategies, and optimize it resource utilization in order to create sustainable competitive advantages (Jeffrey, S. H, et.al, p.118). At this point, this consulting team would only provide guidelines for creating corporate level strategies since our task is to present findings and make recommendation regarding the potential of success for EV manufacturers in the state of Kansas. For traditional EV automakers, a move into the Kansas market would be a form of expansion that requires careful consideration of the economic conditions and its unique demographics. With current budget cuts in the state, financial subsidies and incentives from the government may not be adequate to offset the existing barriers facing the EV penetration into the mainstream market segment nationwide. Therefore, the market potential in Kansas is less

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