strategic

How Does a Company Develop a Business Strategy?

Developing a business strategy involves several steps:
Market Research: Understanding the market landscape, customer needs, and competitive environment.
Setting Objectives: Defining what the organization aims to achieve.
Formulating Strategy: Deciding on the best course of action to achieve objectives.
Implementing the Strategy: Executing the action plans.
Monitoring and Evaluation: Assessing the effectiveness and making necessary adjustments.

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