Business strategy
Business Strategy
Strategy defines the pattern of objectives, purposes or goals and what policies or plans will achieve those goals. They are stated to define what the company is and what it is to be. In other words it determines the long-term goals of an enterprise , what actions need to be adopted and what resources need to be allocated to achieve them.
The basic Strategy Framework
Five major elements of strategy
Arenas
What categories, segments and areas should we be in?
Vehicles
How do we get to where we want to be?
Differentiators
What makes us different, better, than competitors?
Economic Logic
How will we obtain the best possible returns?
Staging
What will be the spped and sequence of moves?