Strategy is the way you at business and give the direction to the business. Strategy does analysis a business in relationship to its industry, its competitors, and the environment. All companies need strategy to reach their goals.
Strategy as part of a business: the seven S models
Structure=> | A corporation’s structure affects its strategic planning and it ability to change |
Systems=> | The actions that accompany plans in response to or in anticipation of changes in its external environment, its customers, and it competitors. |
Skills=> | Closely related to staff are the distinctive abilities and talents that a company possesses. |
Style=> | The basic organizational model or cultural. |
Staff=> | The human resource systems (appraisal, training, wages, and intangibles). |
Super ordinate Goals/Shared Values=> | The guide concepts –values and aspirations of corporate objectives. |
Mission Statement=> | A mission statement is a short and concise statement of goals and priorities. |
Levels of Strategy --->
1. Functional Strategy: The value activities engaged in.
2. Business Strategy: How to fight the competitor, tactics.
3. Corporate Strategy: What businesses should I be in ?
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