Corporate strategy for a diversified or multi-business enterprise chiefly concerns the development of a strategic vision a set of objectives and a strategy for each business the company is in and also specifying the functional area and operating strategies that each business must employ concerns strategy initiatives to establish business positions in different industries, whether to hold or divest existing businesses strategic actions to boost the combined performance of the set of businesses the company has diversified into, and how to capture cross- business synergies and turn them into a competitive advantage concrns developing the strategic initiatives and approaches that are to be used in managing key operating units (plants, distribution centers, geographic units) and specific operating activities with strategic significance for the company as a whole is orchestrated by the company's CEO and other top executives and consists of a collection of business strategies--one for each business the company has diversified into. is orchestrated by the general managers of each of the company's different lines of business, Often with advice and input from the heads of functional area activities within each business and other key people