What is Business Strategy?

If you don’t know where you want to go, then it doesn’t matter which path you take

– Lewis Carroll

In order not to fall into the trap of the above proverb, the Business Strategy emerged, to answer the questions: “What do I want to achieve with my company?” and “How will I measure if I am reaching my goals?” With the answers, you can trace the route and the organization of resources for the company’s journey in the market.

Many companies try to survive in the market without a well-defined strategy, without prioritizing what really matters for growth, which creates a competitive disadvantage in relation to companies that have a well-made strategy.

Who develops Business Strategy?

The elaboration of the Business Strategy is normally carried out by the managers of the companies, whether they are owners of micro and small companies or the top management of medium and large companies, but we encourage any employee to help define the strategy. Any constructive opinion is valid to assist in the growth of your company, and when a strategy is formulated with the help of employees, the feeling of ownership increases incredibly, making them work better to achieve the goals that they themselves helped to create!

And why should I give importance to Strategy in my company?

I want to generate a reflection, so think with me: the market always undergoes constant changes, so which company has more chances of success in this market? One that has no goals, no direction, defined priorities and tries to survive in the market in a disordered way or one that has defined its objectives, the results that will make it achieve these objectives and has well-defined priorities instead of considering everything as having the same importance?

The answer to these questions is pretty obvious when you think about it, right?

Be part of an existing company, be it micro, small, medium or large, or starting your company, a well-defined business strategy will certainly generate a competitive advantage in relation to its competitors. So when it comes to defining your goals and key metrics, think very carefully about how you want to stand out in the market, the possible differentials, your strengths and weaknesses and points of opportunities or threats.

Advantages of a well-defined strategy

Want to know more about Business Strategy and stand out in the market? Read our Paper: Everything you need to know about OKRs.

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