Business strategy.

Discussion in 'Growing and Managing a Business' started by Ferrarijohn, Jul 20, 2012.

  1. Ferrarijohn

    Ferrarijohn
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    Today i want to start new topic like importance of business strategy. You can say that business strategy is the life line for every sort of business. If it is design with clear thoughts, according to business, help to promote market shares then it has so much importance for business perspective.
     
  2. falconator

    falconator
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    Strategy is everything. Being without a business strategy is like jumping in your car and trying to drive across the country with no map or sense if direction. You might get there sooner or later, but it would have been a lot faster if you had a mad and compass.
     
  3. Tiger13

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    Some of the best strategies I've come across happened because there weren't too many "chefs in the kitchen". You want to get everyone involved, and you can, it's just that we've had better brainstorming sessions by simply discussing in smaller groups and then relaying that to the other group and so forth. Once we had a collection of ideas, we were able to map out a great strategy for marketing.
     
  4. jcworlditsme

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    This is good advice, especially if you have never ran a business before.
     
  5. StewardHill

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    To me strategy is everything. Outlining goals and planning how to achieve them is crucial for me. I sit down with my employees and we brainstorm ideas on the white board. Not only it's important for the business, but it shapes and builds the team as well.
     
  6. Mark T

    Mark T
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    For me, when you say "BUSINESS STRATEGY" it means the process in which it includes all your business plan in starting your business - from achieving short term goals to making long term goals for your company.

    When you say business strategy, it also may include on your relationship in terms of B2B (business to business) and B2C (business to clients / consumers / clients). Your business strategy will contain the whole concept of your business and your products. It will help your business be defined in a such a way that your consumers would help grow your business.
     
  7. Dawey

    Dawey
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    To go after simple, focused ideas is almost always the best strategy. However, "business strategy" is a very broad concept. It can be almost anything.
     
  8. harvestllc

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    Different business have different strategies, what strategies do you have? If you're business has a progress then you have a good strategy.
     
  9. revgenteam

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    Try to look at different business models. There is no need for an in detail business plan. If your looking to revolutionize an industry, you should read the book "The Lean Startup" it teaches individuals how to do this with minimal cost and maximum efficiency. As the book says, "A business plan should not rely on tons of assumptions, but should be versatile and able to change directions when trouble arises." You should also read the book "The E-Myth" by Micheal Gerber. This is another title that changed the way I looked at business. it focuses on adding policies and procedures that help you remove yourself from your business. Please send me an e-mail if you would like any further information on the subject. I can recommend tons of titles and what they will help you with.
     
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  10. Bharat Book

    Bharat Book
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    Effective Business strategy is the key of successful business.It includes proper business planning.It contains study about products that you are offering your customer,your target customer and new techniques which you are going to use in your business.employee of company having great contribution for success of business.
     
  11. mrdes

    mrdes
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    Effective business technique is the time management for the business that is useful to divide your complete work detail for the day, and keeps you calm.


    thanks
     
  12. secretstaff.com

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    Business strategy is everything because it serves as the backbone of your business. It is a plan of action designed to achieve your goal and without it, obviously, not only will you find it difficult to achieve your goal, you might not even be able to reach it.
     
  13. rosstaylor

    rosstaylor
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    Business Ideal management is a field that offers with the major designed and emergent projects taken by general professionals on part of owners, including using sources, to boost the efficiency of firms in their exterior environments.
     
  14. kimipatel

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    Without strategy you can not start your business... You should know where you want to go with your business. so without strategy how can you reach there.... It is call like base part of business. In terms of whatever... But you should have strategy...
     
  15. Mark T

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    Yes, and it is more like a plan that will help you grow your business efficiently.
     
  16. revgenteam

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    Although a plan is needed for efficiency in growing your business. I like to quote the view that Eric Ries takes on a strategy. Make a business plan more like a trip to the grocery store and less like a shuttle launch. The difference is huge. When planning a shuttle launch, many assumptions are made and if any of those assumptions prove to be wrong, the whole mission crashes. In a trip to the grocery store, if you happen to run into construction, you simply re-route your trip, take a detour and continue onto the goal. If you happen to find out that the grocery store that you were headed to is closed, you simply pick another one and head that way. One must learn to change routes when faced with danger, and less crash and burn.
     
  17. StarkSEM

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    Most importantly business strategies aren't stagnant. They are ever-evolving into something better.

    What worked last month may not work this month.
     
  18. BAFHarvest

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    strategy keeps the business functioning! because today, you just not put up a business and let it run by anybody else, you must also got to think of new ideas to incorporate with your business to attain a much more profitable business.
    doing such marketing is needed to make it even bigger.:)
     
  19. BAFHarvest

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    it is absolute. since business industry is an industry with growing members that aims for the best and the newest! it is a field where competition is normal! therefore, strategy is a Must. :)

    in addition to the previous post! :)
     
    #19 BAFHarvest, Jul 31, 2012
    Last edited: Jul 31, 2012
  20. chixfashionz

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    Definitely one vital aspect of strategy is the ability to change and cope with change. A strategy fixed on a single set of assumptions or precursors can be made redundant very quickly in today's rapidly-evolving business climate.
     

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