What is Strategy and why it is so important?

Subject: Consumer Behavior

Paper Model: APA

Paper Type: Article

Total Words: 557

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Strategy:

Importance of Strategy

Define the business model, and why it is so important?


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Strategy:

Strategy is the plan that has the distinctive elements that sets it apart from produces and the rivals a competitive edge. Companies make the strategy according to their own particular situation.

Importance of Strategy:

Strategies plat the important role for the achievements of the goals. Organizations make the strategies according to their goals, because strategies provide the direction to the organizations. Then it becomes easy for the organizations to achieve their goals. Strategies help the organizations to compete their competitors. Companies’ managers make the strategic choices about the key building blocks of its strategies, which differ from the choices made by the competitions. Strategies provide the chance of the success only when it is predicted on business approach, action sand competitive moves aim at appealing to the buyers. Distinctive strategies have the competitive advantages for the organizations to achieve the goal of the organization, or to compete with the other competitors. Without the strategies it is not easy for the companies to achieve the goal. Strategies are very important for the organizations success or to increase the profit ratio of the organizations. For example Starbucks strategy in the special coffee market, strategies is the strength of this company which allows rebound and setting and setting an earning record in 2010, 2011 and 2012. Starbucks develop their strategies with the time for competing with the competitors. The key elements of the Starbuck strategy in the specialty of the coffee including roast and purchase the top, quality coffee beans, expansion of the number of the stores, continue to drive to make Starbuck a global brand. This shows that strategies are very important for the success of any business.

Define the business model, and why it is so important?

A company business model is the management of the blueprints for delivering valuable services or the products in that manner which help to increase the profit of the organization.

Importance of the Model:

Business models are like the roadmaps, before stating any kind of the business management of the business prepare the business model for achieving the goals of the business. There are the two different elements of the company’s business model; these are the profit formula and the customer value proposition. Business model help to maximize the value of the business or the customer. In business model customer value proposition establishes the overall company’s lays outs and the strategies to satisfy the customer demands and the needs. While the profit formula describes the company approach for determining the cost of the structure which allows for the acceptable profit given the pricing which tied to the customer value proposition

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