A plan of action designed to achieve a specific goal or set of goals. In business, a strategy is a long-term plan for how an organization will achieve its goals and objectives. It outlines the steps and actions that will be taken to reach the desired outcome.
A strategy can cover different areas of a business, such as marketing, operations, finance, and more. Effective strategies are based on a clear understanding of the business environment, the company’s capabilities, and the needs and wants of its customers.
They take into account both internal and external factors that may impact the company’s performance, such as the competitive landscape, economic conditions, and technological advances.
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