Strategy Chapter 9 (1)

Strategy is a long term approach to implementing a firm's business plans to achieve its business objectives.
Business conditons are always changing, so it is a good practice to priodically step back and take a hard look at your business strategy and how you are implementing it. The prime aim of a business stategy is to provide superior value, differentiation, and core competencies for an organization. The paper provides an insight into the mission, goals, and objectives of business strategy. Forming a successful busienss strategy involves creating a first-rate competitive strategy, business must develop a plan that addresses ways to compete in their respecive markets. Seven S model is very useful: Structure, systems, style, staff, skills, strategy and superordiante goals.