Table of Contents:
Introduction ………………………………………………………………………………..2
Corporate Strategies………………………………………………………………2
Business Strategies………………………………………………………………..3
working(a) Strategies……………………………………………………………...3
Why Businesses Need Strategies
For Success…………………………………………3
Provides a clear view…………………………….4
Examine prospects for change…………………….4
Plan capital budgeting……………………………..4
Types of strategies used by local companies………………………………………………..4-7
Conclusion………………………………………………………………………….……….7
Reference……………………………………………………………………………..……..8
INTRODUCTION
Business strategy refers to plans of actions that rate resource allocation and other activities for dealing with the environment and percentage the organisation attain its goals (Daft, 2000: 240).
The aim of strategy is to identify shipway in which an organisation can outperform others. Strategy consequently involves the creation, implementation and evaluation of purpose, goals, work activities and performance measures (Coulter, 1998: 361).
A strategy can also be referred to a long-term, big-picture, approach to success. Strategies dish out a business achieve its objectives in the long run. By having a well thought out business plan, it allows a company to not only earn sustainable revenues, simply also sustainable profits that are a indispensableness in todays marketplace. Without a well thought out baby-sit and strategies, a business will not achieve what is has educate to gain.
Successful strategies start with a firm base in one region or country, and then expand as opportunities arise, for example, Nakumatt, that started out in Kenya and is now expanding to other regions such as Uganda. These opportunities have to be explored alongside careful analysis of the animateness cycle stage in one or another(prenominal) country. Failure to do so may...If you want to get a full essay, order it on our website: Ordercustompaper.com
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