HOW BUSINESS STRATEGIES ARE CREATED?
Keywords:
Key words: Theories of Business Strategy, Business Analysis, Organizational Design, Plan for allocating resourcesAbstract
The creation of business strategy is now the foundation of an organization's success. I think businesses need to have strong plans to keep their competitive edge while achieving long-term success in a global market that is becoming more and more competitive. In order to shed light on the techniques and procedures that influence strategic decision-making in business, this article aims to expose the complexity involved in developing corporate strategies. Based on current research and actual cases, the paper offers a thorough summary of the strategy development process. This article examines the complex process of developing a business strategy. It explores the several phases of strategy development, from basic market research to practical plan execution. The paper also seeks to clarify the crucial components that affect effective business strategy by looking at case studies, theoretical models and takes into account the importance of creativity, leadership, and flexibility in negotiating the dynamic corporate environment.
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