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The Learning Journal

In: Business and Management

Submitted By djdurty
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Why is strategy important to business

The business strategy of a company provides the big picture that shows how all the different events are coordinated to accomplish a desired end result. It is comprehensive that the strategy process drives the overall direction of the business .This is established on the opportunities and threats in the outside world and the inner strengths and weaknesses of the business.
Function
Frequently confused with business operation plans, strategic plans are expressions of ownership dreams and visions of positive results. Strategic planning, tasks as the "design" just as a blueprint functions as the "how" to build something. The strategic plan demonstrations the finished product or goal. Generally, in smaller businesses, strategic planning is focused on the total company, not on a department, section or division(Russell and Taylor III ).
Improvise
Distinct business plans, there is no one right way to generate effective strategic planning. It is, by description, devising at its best. Strategic planning involves "sense" just as much as it depends on management science. Subsequently it depends on creativity and outside-the-box thinking, there is no perfect way to design a appealing strategic plan. The more you recognize your company, your industry, and your corporate "wish list," the better an appealing strategic plan you'll create.
Strategies Equal Methods
Visualizing goals and then defining strategies, you'll control to achieve your objectives is the factual essence of strategic planning. Easy to manage in a smaller business, strategic thinking recognizes the methods you will take to reach your goals. Use SWOT analysis and prepare for developing a strategic plan.

Russell, Roberta, and Bernard Taylor III. Operations Management: Creating Value Along The Supply Chain. 7th ed. Hoboken: John Wiley & Sons, INC., 2010. eBook....

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