Having someone write an assignment on business strategy means that the person needs to be knowledgeable with management, strategy making, finance management, overall business functionality etc. It needs one to understand how strategies are formulated and what all things one needs to follow. It involves large scale practical implication of business decisions and policies. Writing an assignment on business strategy may sound simple and easy but it needs strategic level of understanding and ability to analyses the facts. Students seek professional help so that they receive business strategy assignment writing help from BookMyEssay experts and strategists which will enable them to secure great marks and create positive impression on examiners.

Understanding Strategy

It is significant to know what actually a business strategy is. It is the principle on the basis of which the entire company runs and performs. It is the foundation of business operations. All policies and objectives are formulated basis the business strategy. Only a great strategy will help business function and perform at a level which is then able to achieve all its goals and objectives year on year. Without an effective strategy no business can survive hence it is crucial to have strong business strategy in place. This builds the foundation for the entire business set up.

Why is There a Need to have Business strategy?

There can be multiple needs in the business where you need to have a strategy to drive your actions. There is overall long term business strategy and there can be strategies for various others important strategic events. There can be a strategy created to secure finances for a new project. There can be strategy for a particular product launch. We may be build a strategy for employee grievance redressal. Strategy can also be there for target market capture. The main thing is that all these short term or functional strategies must be in sync with business strategy.

Business strategy types

We can have a general business strategy in place and a competitive business strategy. Both have an aim and plan of action but are targeted toward different things.

  • General business strategy is for business expansion or taking over new business, launching a new product chain, hiring specific skill set of workforce. It can also involve internationalizing your business that is there is a growth perspective to it. Then we can also have strategies for making business survive in current times like having Labor cost reduced, extra overhead cut, process re-engineering etc.
  • Competitive business strategy wherein the strategies are made to give competitive edge to the products. Also about improvising services and taking look at after sale services. It can also be about targeting online markets. Creating value added products and re looking at the prices of the products.

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