What is Strategy

Business Strategy:

It is a course of actions which need to be implemented for the growth of  business. All the certain set of activities designed for achieving the business goals are known as business strategies.

Why it is Important :

In this current competitive world of business where it is very difficult to move ahead and survive so here Entrepreneurs need a comprehensive innovative business strategies. These business strategies help you to achieve those objectives through which you need to stay ahead in the market. The main objectives required to achieve from business strategies are as follows.

1. Growth of the business
2. Mergers and Acquisitions 
3. Increase in the revenues 
4. Competitive advantage
5. Stay in the business for the longer period of time 
6. Meeting Challenges and Threats 
7. Developing long term business teams
8. Exploring new markets for the business development 
9. Acquiring advantageous Business Position.

In every organization, business strategies vary on different levels. we have three different levels in any organizations. 

• Corporate Level
• Business Level
• Operational Level 

Corporate Level Strategies :

These Strategies are usually build by the top level management of the company. These business strategies are normally focusing on the long term business growth, partnerships, mergers, acquisitions .

These Strategies are made on the basis of Global business environment and the economic situation of the country. These Strategies give you the broader picture of the business. It will help the company to find the new areas for the investment and to go more diversified in terms of products and services.

Business Level Strategies:

This type of Strategies relate to the specific ongoing business in which General managers are working to achieve the vision and mission of the company. These strategies help to grow the current business and to achieve the competitive advantage. These includes business level decisions. 

Operational Level:

This is the functional level of any organization, where managers are responsible for building the operational strategies to maintain and improve the daily operational tasks These strategies includes:

Human Resources, manufacturing, Development, project management, business development and sales.

These operational strategies are basically the core of any organization.

Business Strategies and Technology:

Digital Technologies are the core of the any business. Today in this highly competitive business world we can not imagine our survival without the help of these technologies. These Technologies help us to enable our online presence and with the help of these Digital technologies we can formulate our online business strategies to reach the global markets.

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