Strategy

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n our daily life , we don’t  even go without strategy. So, how can businesses run without strategies? Being an entrepreneur, you would have a number of questions in mind to flourish your business. Even planning keeps going on in your mind.  But it sometime baffles me and makes me stuck at a question that what the strategy is? Linguistically, it comes from the Greek word STRATEGOS which means ‘leading an army’.






Having kept the above meaning in mind, we can derive some features of strategy,

• ·         It has direction and objective towards its goal.
• ·         It envisages ways to achieve the goals.
• ·         It focuses on longer period objectives than shorter one.
• ·         It deals with totality rather than with individuality.

So after concluding these points above, one can assess that strategies are tool through which businesses can see themselves where would be they? How would they compete in the market? What are the activities they have to take up to be in market? How they make themselves better performer in such cut-throat competition? What are the resources required to compete the market? What external and internal factors affecting business ability to compete?

Hence, strategy is a direction and scope of the business over longer period. It lays the path for a business to get availed advantages into competitive environment through configuring the available resources. This is how the business meets the demand of the market and fulfils the expectation of the shareholders.