Dictionary meaning of the word ’strategy’ refers to having a plan or a method to achieve a desired goal. Intially, the word was used more for war successes and goals. Lately, this has changed because wars are fought within corporations these days.
Most businesses are started with penning of business goals. These goals could be achieving some tangibel results in terms of revenue and growth. But, seldom do you see a business that comes out with business strategy or methods that it intends to use to achieve those goals.
Infact, business goals are defined without giving due consideration to the strategic management and strategic planning. While the importance of a business strategy cannot be over-emphasized, the fact remains that much of the success of your endeavor will depend on how well you have evolved as a strategist. A clear business strategy will ensure focussed attention on the path of progress for the entire organization.
