How Does Business Strategy Differ Across Companies And Why Is Strategy Important
Business and corporate strategy is a key factor in any companys survival in the competitive marketplace. The importance of strategy cannot be underestimated, and it is those companies which have clearly defined and implemented strategies which become leaders in their own industries. British Airways is a perfect example of having a bold, decisive and distinct strategy. Their Mission Statement is, quite clearly, To be the best and most successful company in the airline industry (1986:10). Proclaiming high goals such as these helps to push the company towards this success which they aspire, provided it is supported by a well defined and befitting strategic plan of action. In this case, a much longer list of Goals, Objectives, Actions, Rewards and so forth have been outlined by British Airways in order to support this Mission Statement.
Two companies, Cisco Systems and IKEA, with very different business orientation and management styles, have both come through to be extremely successful in their chosen field of business. Their management styles, although divergent and contrasting in nature, have resulted in two very successful global organisations. This idea of strategic management is not confined to one style, but
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