Question

Describe various Corporate Parenting definition, duties and responsibilities and give examples

Subject: Strategic Management

Answer 1

Describe various Corporate Parenting definition, duties and responsibilities and give examples There are basically three type or style of Corporate Parenting, those are Financial Control, Strategic Planning and Strategic Control, Under Financial Control style of corporate parenting, common duties and responsibilities are like controlling and assessing the financial performance of the investment portfolio of a specific organizational units or business units, For Example: using the financial markets, various needed asset can be acquired and Corporate Managers behave like agents and represent the shareholders, Business units managers are supported with taking responsibilities at their business activities and they further can take decisions at their level, Performance standards guidelines and baselines are set by Corporate parents to manage such financial control process,                         With the Strategic control type or style of Corporate Parenting, the Duties and responsibilities include establishing value for their organizational business by effectively managing the resources and by including core competencies, for Example, here, a corporate can have various needed skills and expertise, but with the help of corporate parenting and the style of parenting, here, strategic control, various opportunities can be exploited by using all such skills and expertise, an organization can expect better growth in the coming future,                  Again, Under the Strategic Planning type of style of Corporate Parenting, Duties and Responsibilities include Enhancing organizational synergies across the Various organizational units or business units, For Example, using this style of corporate parenting, the organization will be able to set their purpose, mission statement, such planning effort can facilitate various tasks and cooperation as needed, Allocate necessary resources and manage the task and services,