Business Learning Centre

For an organization to be successful, managers and leaders must lead his people to: 1) do the right things and 2) to make things right. Second, do things right, enters the field of effectiveness and other management skills. First, do the right thing is the business strategy (or corporate strategy or business strategy).

Corporate strategy is of great importance for any business, large or small. In large companies, usually the senior management who are concerned with the strategic issue, but as an individual moves up the scale, you have to start thinking more and more strategically. There are many definitions of strategy. We mention one: “is the complex web of thoughts, ideas, experiences, goals, expertise, memories, perceptions and expectations that provide a general guide to take specific actions in pursuit of particular ends” – Fred Nichols. A more focused into the world of business, provides Bruce Henderson: “It is the deliberate pursuit of an action plan to develop the competitive advantage of a business, and multiply.

Many modern definitions emphasize the need for a company to have a competitive advantage that distinguishes it from others. According to Michael Porter’s competitive strategy is about “Being different. That is, select a variety of activities to which others have chosen to offer a unique mix of value. “Formulate business strategy and then implement it, is a dynamic, complex, continuous and integrated assessment that requires a lot and adjustments.

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