What is Business Strategy?

Quite simply, strategy is defined as a plan, method, or series of actions and tasks designed by the leaders of the organization to achieve a specific goal or effect and reaching the required results (Grant & Jordan 2015, p11). A good strategy takes into account existing barriers and resources. This strategy must be consistent with the vision, mission, and overall objectives of the facility (Nunn & McGuire,2010). These goals define the purpose of the initiative and how it will be successful in attaining vision and mission. Strategies also suggest ways to be adopted (and how to move) on the road to success. This means that strategies help you determine how to achieve vision and settings by working on the basic things (Nunn & McGuire,2010).

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Grant, R. M., & Jordan J. (2015). Foundations of strategy (2nd ed.). Hoboken, NJ: John Wiley & Sons. ISBN13: 9781118914700

Nunn, L., & McGuire, B. (2010). The importance of A good business plan. Journal of Business & Economics Research, 8(2), 95-105. Retrieved from https://search-proquest-com.sdl.idm.oclc.org/docview/194892288?accountid=142908

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Daniel Fortune

Daniel Fortune is a successful business professional, entrepreneur, father, and lover of travel.

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