Business Strategy gives an overview of what needs to be done to achieve the goals and objectives of the business. It helps in making a decision on resource allocation. A business strategy ensures that there are no conflicts between departments and overall organizations directions since all departments work innovatively and independently. In every business organization, the aim is to retain customers and with the help of a sound business plan customer loyalty can be generated. Business strategies can be applied to varied systems and situations in an organization like in a robust system of follow up, resource allocation, business expansion, etc. To create the best business strategy managers need to be critical. They have to build a realistic time frame to make strategies and achieve goals. Focusing on results of the strategy is very important. In a business strategy, there needs to be a healthy balance between the business plan made and implemented.
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