Strategy Topic

A strategy is a long term plan of action designed to achieve a particular goal. Strategy should be competitive. Competitive strategy consists of moves to: attract customers, to strenghten firm’s market position and focuses on management’s plan to compete successfully. In other words, strategy is about:

o Which markets should a business compete in?

o What have you done to improve customer service?

o What have you done to improve customer satisfaction?

o What have you done to reduce costs?

o What have you done to increase revenues (ienākums) from new products and services?

It is very important to follow time, make modifications in strategy and, of course, to be able to respond quickly to customer’s needs. These conditions are very important that your company’s strategy would be competitive.