“Without a strategy the organization is like a ship without a rudder.”-Joel Ross and Michael Kami
Why Is Strategy important?
- A compelling need exists for managers
to proactively shape how a firm’s
business will be conducted - A strategy-focused firm is more likely
to be a strong bottom-line performer
than one that views strategy as secondary
Key Elements of a Successful strategy
- Developing a successful strategy hinges on making competitive moves aimed at
- Appealing to buyers in ways to set the enterprise apart from rivals and
- Carving out its own market position
- Involves developing a distinctive “aha”element to
- Attract customers and
- Produce a competitive edge
Good strategy+ Good strategy Execution
= Good Management
As The equation shown above, a strategy and its execution defines good management of the company. hence, strategy is very important in terms of where the company and wants to go in the future and how it wants to go there.
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