Question

What is Business Strategy ?

Answer 1

A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-termbusiness planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer).

Answer 2

Answer:

Business Strategy - This refers to the procedure of Organisation that comes up with the alternative and how to respond effectively in certain situations to cope up with the hurdles and maintain the efficiency of the Organization.

Business Strategy is a description of the methodology and techniques to be followed to accomplish the task done in the Organization.

The business strategy is a lengthy and cost involving process. It is a long term plan to be followed.

Business Strategies can be distinguished based on -

• Strategy in general - It is a basic fundamental of the business operations daily to create a flexible and motivated business environment.

•Co-operate Strategy - These are the plans that relate to the co-operative business world how an Organisation wants to create its name and brand awareness and vision and mission for the Organization.

•Competitive Strategy - What kind of and how an Organisation wants to see itself as the strong competitors to the other substitute Organization running in the market.