Association of Chartered Certified Accountants (ACCA) Certification Practice Test

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What is the primary concern of corporate strategies?

Specific product market approaches
The types of businesses an organization is involved in
Operational planning and execution
Management hierarchy adjustments

The correct answer is: The types of businesses an organization is involved in

The primary concern of corporate strategies revolves around the types of businesses an organization is involved in. This strategic level is focused on overarching decisions regarding the portfolio of businesses and the direction of the organization as a whole. It includes considerations such as mergers and acquisitions, diversification, and resource allocation among different units. Corporate strategies determine which markets and industries a company should engage in, how it should best structure its business units, and how to achieve a competitive advantage across its varied operations. This is in contrast to other strategic focuses, such as specific product market approaches or operational planning, which are more concerned with day-to-day management and tactical decision-making within particular contexts rather than the broader company scope.