Angel Lopez
May 4, 22 | 7 min read
business strategy
Reading time: 6 minutes
A business strategy is a very powerful tool that will help you achieve business goals, focusing on planning methods and tactics as guidelines to be followed by the work team. This, together with a good marketing technique , is a bomb!
Specifically, it guides organizational decision-making to prevent costly errors as much as possible.
Keep reading, below is all the information you need!
What is a business strategy?
These are the 3 levels of a business strategy
Why is a trading strategy important?
6 examples of business strategy
What is a business strategy?
Business strategy can be understood as the syria email address course of action or set of decisions that help entrepreneurs achieve specific business objectives that have been planned in advance.
In other words, it is nothing more than a master plan implemented by a company's management to ensure a competitive position in the market, carry out its operations, please customers and achieve the desired business goals.
Since we are talking about business, it is extremely important here because it is the long-term projection of the desired image, direction and destiny of the organization. It is a scheme of corporate intention and action, carefully planned and flexibly designed with the purpose of:
achieve effectiveness;
perceive and take advantage of opportunities;
mobilize resources;
ensure a good competitive advantage;
address the challenges and threats presented by the market;
direct the efforts and behavior of work teams;
maintain control in the face of a potentially problematic situation.
In short, business strategy encompasses a set of competitive moves and actions to attract customers, compete successfully, strengthen performance and achieve organizational goals. It describes how business should be conducted successfully to achieve desired ends.
It also seeks to equip senior management with an integrated framework to discover, analyze and exploit beneficial opportunities, to detect and confront potential threats, to make optimal use of resources and strengths, to counteract weaknesses, among many other actions.
Nature of business strategy
A business strategy is a combination of proactive actions by management aimed at improving the company's market position, overall performance and reactions to unexpected developments and new market conditions.
Generally speaking, the techniques that are carried out in each of the companies are the result of commercial actions and approaches initiated previously, but when market conditions take an unexpected turn, businesses require a strategic reaction to deal with contingencies.
Hence, in the face of unforeseen developments in situations, part of the business strategy is formulated as a reasoned response.
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These are the 3 levels of a business strategy
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This concept does not stop here, it is very broad and is divided into 3 levels:
Corporate level
A corporate-level business strategy is a long-range organizational plan that is fully oriented towards the actions to be taken; it is formulated and designed by the company's executives.
This first case is carried out mainly for:
detail the lines of business, expansion and growth;
seek acquisitions and mergers;
focus on diversification, integration;
find new areas of investment and divestment,
Business level
This second level is entirely related to business and is particularly developed by general managers, who convert the mission and vision into concrete strategies.
