TITLE

Are you struggling with Strategy?

AUTHOR(S)
Turner, Simon
PUB. DATE
July 2004
SOURCE
Management Services;Jul2004, Vol. 48 Issue 7, p16
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article offers three alternative ways of dealing with business strategy that focus on the external environment. Business strategies are frequently imposed as a set of directives by senior managers and executives, and are discussed in terms comparable to a military offensive. The word strategy comes from the Greek word stratagus, meaning general and incorporates the various tactics and ploys adopted by a military officer to achieve victory. A business strategy should still be concerned with conquering adversaries, but also needs to incorporate a number of other components to ensure that existing business will expand and new markets are created for the future. All too frequently, strategies are viewed in simple military terms of objectives and targets, through which many senior managers believe they will overcome, succeed and win. However, there is another way--one that involves becoming more aware of the external business environment and having the ability to respond to it accordingly. It is essential that a business strategy not only meets the needs of existing customers, but also ensures that the business will be in a position to meet their future demands, as well as to attract potential customers.
ACCESSION #
13854465

 

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