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Strategy can be easy to formulate by creating a vision, setting objectives after swot analysis and availing opportunities present in the external environment, but it is difficult to translate this strategy into action and obtain measurable results.
Business strategy is a set of action plan that assist the entity to achieve measurable business objectives. It is the master plan that the entity uses to secure a competitive position in the market, conduct operations, satisfy customers and achieve the desired ends of the business.
At the very outset of through external analysis, exploitable opportunities can be identified in measurable term. Through internal analysis entities access to resource and intent can be recognized.
Now the interaction of exploitable opportunities and entities intent along with the resource availability will formulate the action plans. This is the process of strategizing a situation into action plan in a measurable metrics.
Strategy depends upon mapping the business environment and matching them with your organisations strengths. Post this management can start to create its own USPs and create a niche in a cluttered marketplace.
