Researchcorporate strategies and the affect they have on the decision process. Show how Hyatt hotels has gone through a decision-making process on a given business issue within the company. As you explore the decision process, consider how corporate strategies influence these decisions. In your essay, address the following questions:

1. What is a functional strategy?

2. What are stability strategies in business? What are the pros and cons of these strategies?

3. What are competitive and cooperative strategies?

4. What are the tradeoffs (pros and cons) between an internal and an external growth strategy? Which approach is best as an international strategy? Why? What about retrenchment?

5. In which ways does policy impact corporate strategy implementation and achievement of organizational goals and objectives?

6. How does a company's portfolio guide decisions?