Business strategy is a long-term plan that outlines the goals, actions, and resources that a company will use to achieve its objectives. It is a roadmap that guides the company’s decision-making and helps it to stay on track. Developing a business strategy is essential for any company that wants to succeed in today’s competitive market.
There are many different frameworks for developing a business strategy. One common approach is to use the SWOT analysis, which stands for strengths, weaknesses, opportunities, and threats. This analysis helps companies to identify their internal strengths and weaknesses, as well as the external opportunities and threats that they face.
