What is Business strategy?
Answers: Johnson and Scholes define strategy as follows:
"Strategy is the direction and freedom of an organisation over the long-term: which achieves power for the organisation through its configuration of resources within a confrontational environment, to meet the wishes of markets and to fulfil stakeholder expectations".
In other words, strategy is going on for:
o Where is the business trying to get to surrounded by the long-term (direction)
o Which markets should a business compete surrounded by and what kind of comings and goings are involved in such market? (markets; scope)
o How can the business perform better than the competition within those markets? (advantage)?
o What resources (skills, assets, nouns, relationships, technical competence, facilities) are required contained by order to be capable of compete? (resources)?
o What external, environmental factors affect the businesses' proficiency to compete? (environment)?
o What are the values and expectations of those who have power within and around the business? (stakeholders)
Business strategy is a term which is used for the planing of business operation.
For Example:
Creating new work plans for fortification in helpfulness of business
Something you should follow when you do business :)