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we
have to reply on this discussion And we can use probing questions
Whether a small home-based business or a large
multinational corporation, business strategy is key to ensuring a business
offers value to customers and stays competitive and profitable for the long
term. Although some companies may have a lucky start due to an innovative
product or auspicious timing, sustaining that success is impossible without a
solid business strategy. This strategy assists management in determining the
business’s future and developing coordinated actions to reach those goals.
Without a solid strategy, management does not have a clear path forward. As a
result, management may make poor decisions when faced with challenges and
ultimately fail.
Reference:
Thompson, Arthur A., Peteraf, Margaret A., Gamble, John
E., Strickland, A. J.. (2022). Crafting
and Executing Strategy: concepts and cases (Ed. 23e). New
York: McGraw Hill
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