A Good Strategy Drives Business

After nearly 40 years, the theory of business strategy is well developed and widely disseminated. Pioneering work by academics such as Michael E. Porter and Henry Mintzberg has established a rich literature on good strategy. Most senior executives have been trained in its principles, and large corporations have their own skilled strategy departments.

The book “The Strategist” begins the reader down a path that will build an organization that will survive into the future. It begins by asking a question, which on the surface seems trivial. The author asks the reader to answer the question” Does your company matter?” On the surface, and as it plays out in the text, most people instinctively answer in the affirmative. However, a closer look at each person’s organization and with some soul searching we inevitably find many of us are on the wrong track and we need to reevaluate our “purpose”. This organizational specific purpose is the key point of the reading.

Look at the whole world, more and more enterprises, some of them in the competition become more and more stronger, and some have failed. Strategy is like the backbone of a company, leading enterprises to the correct direction of development. Commercial field is like a battlefield, every business to choose and create the most suitable for their own set of strategies, and other enterprises to do competition. Losers are always in the wrong. So we can know, strategy is the soul of a company, the value of a company, but also a company's ability reflect.

Strategy may be one of the most misinterpreted concepts in buiness which are essential in every facet of an organization. In general, it is nothing but an obligation towards a set of logical policies meant for accomplishing a definite competitive goal. To be more specific strategy is to convey the distinctive blend of values by picking a diverse set of activities (Porter, 1983). If the strategy is good it helps to prioritize the objectives and to promote alliance within the diverse organization. A company’s successful endeavours in their accomplishments, a well- driven strategy is essential and the various internal departments should have to support it. Irrespective of your part in a firm, strategy plays a crucial role for your

Chapter 1 explores the concepts surrounding organizational strategy. It begins with an explanation of the term strategy and offers a basis for how to identify a company’s particular strategy. Next, it explores the importance of striving for competitive advantage in the marketplace and examines the role strategy plays in achieving this advantage. The chapter then explores the idea that strategy is partly proactive and partly reactive. Next, a discussion on strategy and ethics is given. This is followed by a close look at the relationship between a company’s strategy and its business model. The chapter proceeds forward with a look at what makes strategy a winner and then presents reasons for why crafting and executing strategy are important.

The implementation of correct strategy in an organization is of vital importance. The reason for this is that strategy helps an organization to reach goals and it helps an organization to prosper. The correct Strategy and implementation also helps an organization to have a competitive advantage over its

A girl with seventy pairs of shoes can be safely called a shopaholic! I like to call myself a ‘shoeaholic’ rather than a shopaholic. In other words, it can be considered an expensive hobby because I enjoy learning about the newest shoe trends, their designers, the channels through which they are being offered and purchasing them. I am very passionate about shoes and believe in owning ‘what’s in?’ However, I am not someone who will splurge a significant amount of money on a single pair. I often find myself searching for the best promotions, discounts and affordable shoes for every new incoming season. During one of my long online browsing sessions, I stumbled upon an online shoe store called ‘JustFab’ or in my words

The concept of strategy is as old as the history of wars itself. “The Art of War” the first comprehensive book on strategy was written about 500 BC. The roots of strategy are in competition. The word “strategic” derives from the Greek word “strategos,” which means “a general set of manoeuvres carried out to overcome an enemy during combat” (Nutt & Backoff 1992, p. 56). However, corporate strategy gained the recognition of being a separate field of study around fifty years ago (Kay 2003). The most famous work on for-profit strategy is Porter’s “Competitive Strategy”. He defines strategy as: “developing a competitive strategy is developing a broad formula for how a business is going to compete, what its goals

Strategy shapes the plans that determine the direction an organization takes in pursuing its goals.

TASKS ♦ Strategy provides: A prescription for doing business. ● A road map to competitive advantage. ●

The question of why strategy is important to business is compelling to say the least. There are a number of reasons why strategy can and often does determine the success, growth or failure of a business. Without a strategy the business is responding to internal and external circumstances or demands without the advantage of a plan in place to address them. This sometimes leads to wrong decisions or weak decisions and the business loses the opportunity to turn the circumstance into an optimal resolution that results in profits and better business.

The world seems to be changing ever faster, with the innovation of technological, economic and political forces reverberating around the world everyday. In the 21st century, management is becoming one of the leading key words on most of search engines such as Google, Yahoo, Go.com, Business.com, WebCrawler…Times are turbulent, and for managers trying to successfully run their organizations, not only do they have to master the technical skills but also make precise decisions at the right times and build up the appropriate strategies to achieve organizational goals. That is to say strategy is undoubtedly crucial for organization’s success, so what is strategy? Strategy refers to the plan of action that prescribes resources

The answer lies on the understanding of dynamics involved in positioning a company’s business model. We can understand the dynamics of the business model in the following three perspectives:

With a fast economic development and an increasingly competitive marketing, it has demonstrated that a successful company has to performance effective strategies through the whole operation for its survival and development. As known to all, a strategy is a overall view, referring to the plans and actions a enterprise selects to achieve its goals, including “some planned and systematic consideration of how to remain or become successful in that business”, some “internal factors” and “external factors” (textbook, ). Additionally, Strategic management regards as how to formulate, implement and evaluate strategies through a series of managerial activities, strengthening an organisation’s core competences, (MGM foundation). In a company, it is usually considered as the key engine of how and where it should invest its resources.

Why every company needs a sound strategy to compete successfully, manages the conduct of its business, and strengthens its prospect for long-term success? A company’s Strategy consists of the competitive moves and business approaches that managers are employing to compete successfully, improve performance, and grow the business.