"Business strategy is the determination of how a company will compete in a given business, and position itself among its competitors." (Kenneth R Andrews, "The Concept of Corporate Strategy", 1980)
"The organization's business strategy is a set of objectives, plans, and policies for the organization to compete successfully in its markets. In effect, the business strategy specifies what an organization's competitive will be and how this advantage will be and sustained." (Scott M Shafer & Jack R Meredith, "Introducing Operations Management: Wall Street Journal", 2003)
"A business strategy is a set of guiding principles that, when communicated and adopted in the organization, generates a desired pattern of decision making. A strategy is therefore about how people throughout the organization should make decisions and allocate resources in order accomplish key objectives." (Michael D Watkins, "Demystifying Strategy: The What, Who, How, and Why", Harvard Business Review, 2007) [source]
"A business strategy identifies how a division or strategic business unit will compete in its product or service domain." (John R Schermerhorn Jr, "Management" 12th Ed., 2012)
"Business strategy is essentially the art and science of formulating. plans to align resources, overcome challenges, and achieve stated objectives." (Carl F Lehman, "Strategy and Business Process Management", 2012)
"Business strategy is the strategic initiatives a company pursues to create value for the organization and its stakeholders and gain a competitive advantage in the market." (Michael Boyles, "What is business strategy & why is it important?", Harvard Business School Online, 2022) [link]
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