Question

What do you understand by strategy and characteristics?

Answer 1

Answer:

A strategy is the direction and scope of an organization in the long run. It helps an organization achieve an advantage over its competitors through an efficient configuration of resources. It also ensures that the market's needs are met along with the expectations of all stakeholders Business is interested in every activity that is concerned with the production or purchase of goods for selling, this makes it one of the most important characteristics of a business. Services for sale include transportation, housekeeping, and security. Whereas, goods are mostly consumable items.