Business Strategy and its Role in Achieving Success

Business Strategy ( Management)

Business Strategy 1
Business strategy and its role to achieve the success
Business strategy is a way through which set of goals could be achieved and end
objectives are achieved. It supports the business to go for a long term success. Business
strategy is developed for around 3-5 years that helps in providing a direction to the business.
The business strategy is concerned majorly on making sure that all the resources and assets
are used completely (Ryu, Lee and Choi, 2015). The role of designing business strategy is
makes sure that company expand so that new customers can be gained. It supports the
business by moving its operations to the global world. Business strategy expands the business
and makes it available in the international market (Business-intelligence, 2017). The role of
business strategy is to enable the services to audience by selling products at lower price. It
offers benefits in terms of economic scale by producing valuable output.
Business strategy is a high level planning for the organisation so that they attain all
the objectives. The motive of strategic planning is to improve the performance of the
organisation by optimizing the profits and performance. The strategies help in reflecting the
positive outcome of the business (Leonidou, Fotiadis, Christodoulides, Spyropoulou and
Katsikeas, 2015). The main purpose of the business strategy is to assure that business growth
will be achieved. The role is building a clear vision, then focusing on the objective level by
level. Building strategic framework helps the business to achieve success.
The purpose of business strategy is to set the goals and a target so that business works
towards it for achieving it. The aim of these strategies is to track all the operations so that
they develop a plan to achieve the goals. The aim of business strategy is to find out the
loophole in the working culture so that a measurable target could be set (Buisness
care, 2017). The business strategy can be seen as an overall business plan that consist a list of

Business Strategy 2
actions that need to be followed.
The strategy can be defined as a plan that is designed to reach the target. The strategy
that will be undertaken should be clear, qualified, focused and realistic. The strategy should
be clear as an unambiguous statement can be problematic in taking decisions. The strategy
should be well quantified, that means a complete research need to be done regarding the
outcome (Alam, Pono and Munizu, 2016). The output is predicated so that performance can
be monitored regularly. Thus, in my opinion and past experience I would suggest that every
organisation should have a well-defined business strategy as it is an integral component to
engage customers and lead in the competitive market. It is beneficial as once the strategy is
designed it helps the company to attain the mission and goals (Wieland, Hartmann and
Vargo, 2017).
Business strategy is important as they set up the priorities for the company and helps
them to attract new clients. They provide a strategic direction to the organisation. They
basically deal on expanding the companies’ strength and making sure that customers continue
to serve for a longer time (Simon, Fischbach and Schoder, 2014). Like from the learning, I
have seen that organisation undertake business strategies so that they can enhance the value
of their brand. Also, build up a revenue plan so that they can increase their profit margins and
bet the competitors.
The main role of business strategy is to have a long term sketch of the goals and
direction. The purpose of business strategy is to achieve effectiveness and perceiving and
utilising opportunities (Simon, Fischbach and Schoder, 2014). The business strategy is a set
of competitive actions that are carried out to reach the desired objectives. They make use of
strategies so that they can achieve the desired ends. The role of business strategies is to