WHY BUSINESSES NEEDS STRATEGY??
Overview
Strategy consists of competitive moves and business approaches uses by the managers in order to run the businesses smoothly. Strategy is a core function performed by the management of a firm. It could be right to say that planning and executing a fair strategy does not mean that business will definitely get success. Firms could force some unforeseen circumstances as well as unfavorable circumstances all though no responsibility of their own. Normally there are three kinds of strategy every business design, Corporate Level Strategy, Business Level Strategy and Functional Strategy.
Why business need to plan a strategy
Business needs strategy in order to.
- Compete in the market.
- Get sustainable competitive advantage over its rivals.
- Increase profitability in the business.
- Decrease cost of business and achieve effectiveness and efficiency.
- Because strategy could assist a business to assure the success as well as the continuation of the business for a long time period.
- Attract customers
- Business needs strategy in order to compete with the rivals available in the market successfully.
- Attained desired level of company performance.
Creative Distinctive Strategy
Creative Distinctive strategy is a kind of strategy which the firms design in order to make their business that looks different from their customers. It means that the firm needs strategy in order to provide 
goods and services to its loyal customers in the market where the business is conducting its operations. The competitive business strategy provides several advantages to its customers such as it enhances the productivity of the firm, it strengthen the competitive position of the firm in the market where the firm exist. It helps the firm to get a sustainable competitive advantage over its rivals.
A company attains the competitive advantage over its rivals only when it becomes successful in getting maximum customers as compare to rivals. Has maximum number of products in its product line as compare to its rivals.
Some approaches to get the sustainable competitive advantage
- The firm should need to become a low cost provider in the industry in which it exists.
- Needs to have some features in its product which their competitors do not have in their products.
In order to form a strategy and implement it firm needs to make money in the business because it needs some financial resources. In order to do so business needs to have a business model. The business model communicates that how the business generates money in their business. It concerns with either the sales as well as the costs associated with the business flows from a strategy must show that business could be feasible as well as profit making.
All businesses need strategy. It does not matter that how large the business operations is. Even some academic services providers also needs to have a strategy in order to compete in the market. These firms include Help with Assignment, Essay writing Help, Do my Essay, Do My Assignment, Please Help with my homework and many more. It is because in this industry firms have strong competition among them. So, in order to compete successfully and get a sustainable competitive advantage over its rivals. Conclusively, it can be said that every business needs a strategy in order to sustain in the market where it exist and get a competitive advantage over its rivals. This is why the businesses across the globe need to form workable strategy. Businesses need strategy in order to cope up with the internal and external factors that might put some disastrous effects on the performance of the business. If a business has a well-defined strategy so it assists the business to fight with such disastrous conditions.
