A business strategy is a well documented plan on how an organisation is setting out to achieve its goals. A business strategy comprises key principles that outline how a company will attain these goals. For example, it will evaluate the needs and expectations of customers, how to deal with competitors and examine the long-term growth and sustainability of the organisation. Following a well thought out strategy will ensure a business builds, maintains and strengthens its competitive advantage in the marketplace.
Not all businesses get it right straight away. For various reasons, there are natural weaknesses within all organisations. A business strategy identifies areas for improvement and helps the company reach its full potential.
The factsheets and information provided below can help you develop your business strategy.
