Business Strategy

Definition: Business strategy can be understood as the course of action or set of decisions which assist the entrepreneurs in achieving specific business objectives.

It is nothing but a master plan that the management of a company implements to secure a competitive position in the market, carry on its operations, please customers and achieve the desired ends of the business.

In business, it is the long-range sketch of the desired image, direction and destination of the organization. It is a scheme of corporate intent and action, which is carefully planned and flexibly designed with the purpose of

• Achieving effectiveness,
• Perceiving and utilizing opportunities,
• Mobilising resources,
• Securing an advantageous position,
• Meeting challenges and threats,
• Directing efforts and behaviour and
• Gaining command over the situation.

A business strategy is a set of competitive moves and actions that a business uses to attract customers, compete successfully, strengthening performance, and achieve organizational goals. It outlines how business should be carried