Annals of the „Constantin Brâncuşi” University of Târgu Jiu, Economy Series, Issue 1/2014 „ACADEMICA BRÂNCUŞI” PUBLISHER, ISSN 2344 – 3685/ISSN-L 1844 - 7007 INTEGRATED CORPORATE STRATEGY MODEL CATALINA SORIANA SITNIKOV PhD. Associate Professor, Faculty of Economics and Business Administration, University of Craiova, Craiova, Dolj, Romania inasitnikov@yahoo.com BOCEAN CLAUDIU GEORGE PhD. Lecturer, Faculty of Economics and Business Administration, University of Craiova, Craiova, Dolj, Romania boceanclaudiu@yahoo.com Abstract Corporations are at present operating in demanding and highly unsure periods, facing a mixture of increased macroeconomic need, competitive and capital market dangers, and in many cases, the prospect for significant technical and regulative gap. Throughout these demanding and highly unsure times, the corporations must pay particular attention to corporate strategy. In present times, corporate strategy must be perceived and used as a function of various fields, covers, and characters as well as a highly interactive system. For the corporation's strategy to become a competitive advantage is necessary to understand and also to integrate it in a holistic model to ensure sustainable progress of corporation activities under the optimum conditions of profitability. The model proposed in this paper is aimed at integrating the two strategic models, Hoshin Kanri and Integrated Strategy Model, as well as their consolidation with the principles of sound corporate governance set out by the OECD. Keywords: Business strategy, competitive advantage, corporate mission, vision and values, strategic planning JEL classification: G30, G38 1. Introduction The central element in administering a corporate initiative is an adequately founded corporate strategy. Strategies subsist at various levels in any company - lining up from the whole business (or group of businesses) through to people functioning in it. In this framework, corporate strategy (CS) is focused on the comprehensive aim and extent of the business to meet stakeholder hopes. This is a decisive level since it is deeply affected by investors in the business and acts to lead strategic decision-making throughout the business hence, corporate strategy is a fundamental tie between effective business mission and understanding determined portfolio of corporate goals in the market conditions. Corporate strategy is frequently declared clearly in a "mission statement." “Corporate strategy is the pattern of decisions in a company that determines and reveals its objectives, purposes, or goals, produces the principal policies and plans for achieving those goals, and defines the range of business the company is to pursue, the kind of economic and human organization it is or intends to be, and the nature of the economic and non-economic contribution it intends to make to its shareholders, employees, customers, and communities.” (Andrews, 1987). According to others, corporate strategy can be considered as a value-creating path of activity for all stakeholders by virtue of using and harmonizing resources in distinctive marketplaces and corporate activities. Michael Porter stated that “corporate strategy is what makes the corporate whole add up to more than the sum of its business unit parts” (Meyer and Volberda, 1997). Corporate strategy is the system of decisions in a company that settles and uncovers its corporate aims, presents the main policies, and plans for completing those aims and, as a result, sets the extent, nature, and outcomes of activities of the company and its divisions. The interdependency of aims, policies, and systematized activity is critical to the individuality of a distinctive corporate strategy and its opportunity to produce the competitive advantage. It is the consensus, consistency, and internal steadiness of strategic decisions that place the company in its business conditions and settle its uniqueness, the authority to activate its strengths, and probability of accomplishment in the marketplace. Successful corporate strategy outcomes in synergic effects of business components' mixture with comprehensive performance that is larger than distinctive performance of every unit (Sitnikov, 2013). 258