Monday, March 2, 2009

Why are strategies important? Can an organisation be successful without effective strategies? How do policies differ from strategies?

Business is a competition and it does not happen in isolation. Planning provides future directions. However a business must realise the mere logic built into planning process may not assure success.
Strategy is determining competitive course of action that provide some advantage over business rivals
In practice business can not survive without effective strategy. Sooner or later it must craft crucial strategies

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