asked in Business+Finance by (14 points) 1 3

Please log in or register to answer this question.

8 Answers

0 thanks
answered by (11 points) 1
a business strategy is the vision that you have about a particular business. It is the way you want your business to progress and prosper in the present as well as in the future. Having a clear idea and a well made strategy can be very helpful in the growth of the business
replied by (3 points) 1
Thanks for you answer :)
1 thanks
answered by (33 points) 1

It's important to use beneficial marketing tools to grow business.

You can launch Facebook ads as well as get instagram followers in order to increase your sales, because people use social media daily and your target audience is exactly there. So it's enough to attract then through social platforms.

0 thanks
answered by (11 points) 2
The business strategy is a plan that helps one to succeed in a business. Some of the tips you can consider to have a better business strategy are as follows:

1. Be critical

2. Set goals and focus on results

3. Have new and innovative ideas

4. Take appropriate action

5. Maintain documents and store them in the mini storage to keep them secure

These were the steps to build a great business strategy. 
0 thanks
answered by VISIONARY (9,003 points) 6 10 19
A business strategy is the ideas or vision one has about a business project that is been put to work to make a business unique,outstanding and rewarding. A business cannot grow if business strategies are not put in place to see the business grow.

Business strategy don't needs to be static it should be updated and revisits periodically to meet with the evolving world and time. Business strategy must always be creative ,innovative and in consonances with the vision of the business.

It always good to strategize but it a lot better to test it first and see the level of efficacy, if it isn't working then it better to re-strategize than continuing with it.A good business must be flexible too.
0 thanks
answered by (316 points) 1 6
A business strategy is sometimes defined only as high level plan to achieve an objective of a certain organization. Strategic plans are successful when they lead to a business growth. A good financial performance and competitive position, when a high level strategy fails the company can change it's focus or decide to take another business before they can run into losses. Strategies are usually important even to the managers to enable them work efficiently in the organization. The plans that are put across help to maintain the company with their staffs and their concerns with their customers and the new customers they are targeting to get. This also allow plan for new products to be introduced in the market.
0 thanks
answered by Patron (1,912 points) 2 6 14
Strategy means a plan of action for a set aim. It is generally intended to accomplish a desired aim or goal. Naturally, a business strategy means to think and draw a good plan of action in order to establish, run and also earn some good amount of money out of running such a business. All businesses should have a strategy in place. Otherwise, it may fail miserably.
Why is it so? It is because, starting a business involves a lot of things like investment, infrastructure, man power, taxes etc etc. It is not a joke or a child's play. So, if anyone starts any business without any knowledge in it besides not framing and following a good strategy for it is only doomed to fail soon.
0 thanks
answered by (83 points) 2 4

Business strategy is a plan to increase the business benefit like business models, customer engagement etc. Nowadays technology is growing rapidly so it is difficult to survive the competitive world. It is necessary to transform your business into digital to survive in the competitive world. If your business model doesn't make your customer feel the comfort your business will not survive for a long time.Automation, customer engagement, employee-engagement also falls under digital transformation in business.

Steps for business strategy and digital transformation.

  • Create a new business strategy.
  • Choose the right technology suits your business. (AI, Cloud, IoT...)
  • Include the technology in business modules.
  • In case you are selling a product go for e-commerce mobile apps, websites etc.
  • Find the right digital transformation agency.
0 thanks
answered by ELITE (3,008 points) 2 6 13
A business strategy refers to the processes involved from ideas generations to implementation and positive realization of business target. It is very important to have a business strategy because virtually all businesses are prone to competition so business strategy is the major tool of survival I'm such competition.
It is through business strategy that marketing plans are drawn test run,  amended and put to use for positive feedbacks in very business.
The different patterns of advertisements run by different brands of the same products just to appease the customers to patronise them is through business strategy.
It is very important that it is not a must  that  business strategy will work,  there is always the second chance to realign initiatives or opinions while taking decisions.

Related questions

2,965 questions

9,328 answers

4,525 replies

1,992 users

Most active Members
May 2019:
  1. Leyley - 46 activities
  2. Robcomp - 35 activities
  3. pmahajan18 - 19 activities
  4. SmartAZ - 16 activities
  5. pinakigoswami - 13 activities
  6. leslishambly - 13 activities
  7. Quest227 - 9 activities
  8. Amilia summers - 7 activities
  9. Nidhi Soni - 7 activities
  10. lincy - 5 activities
Most answered Members
April 2019:
  1. Leyley - 11 answers
  2. Robcomp - 4 answers
  3. leslishambly - 3 answers
  4. pinakigoswami - 3 answers
  5. Henry Mathew - 2 answers
  6. Anindita - 2 answers
  7. rsaxena50 - 1 answers
  8. bryangreene - 1 answers
  9. shailender - 1 answers
  10. marcstephens - 1 answers