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Business Strategy: Importance and Implementation

   

Added on  2023-04-04

18 Pages992 Words176 Views
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Business Strategy
Business Strategy: Importance and Implementation_1

Strategic planning or business plan affects
the process through which operational
decisions of a company is made.
Formal statement including business goals
Information regarding a company’s
background is included.
A business plan contains the external and
internal factors related to a business.
Introduction
Business Strategy: Importance and Implementation_2

It is a written document
Helps to fix goals and improve operations of
the business.
All the staffs as well as stakeholders need to
focus towards a common goal.
Includes mechanisms of control in order to
implement the strategies.
Business Strategy: Importance and Implementation_3

Business missions act as a guide for the
company.
Managers, shareholders or employees all
follow the business mission.
Missions include short and long term
objectives like shareholders
share, revenue targets, need
of the customers.
Business missions influence
strategic planning
Business Strategy: Importance and Implementation_4

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