What is business strategy?

Business strategy refers to the plan of action that a company employs to achieve its long-term objectives and goals. It involves making fundamental decisions regarding the allocation of resources, identifying opportunities in the market and addressing challenges and threats in the competitive landscape. Business strategy typically focuses on the development of a sustainable competitive advantage by creating unique value propositions that stand out from competitors. It is critical for firms to regularly review their business strategy to remain relevant in the market and competitive.
This mind map was published on 16 May 2023 and has been viewed 60 times.

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