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Understanding Business Strategy

Understanding Business Strategy
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Author(s): Emanuel Gomes (University of Sheffield, UK) and Paul Jackson (Coventry University, UK)
Copyright: 2012
Pages: 17
Source title: Service Science Research, Strategy and Innovation: Dynamic Knowledge Management Methods
Source Author(s)/Editor(s): N. Delener (Arcadia University, USA)
DOI: 10.4018/978-1-4666-0077-5.ch019


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To understand Business Strategy it is necessary to gain an appreciation of some of the processes that strategists have to undertake in order to analyse and execute successful business strategies. This chapter explains the importance of having an overall corporate strategy and proposes a possible logical structure for the strategic management process. The authors start by discussing the importance of the analysis of the strategic position of the company. This is followed by a discussion of the complexities involved in the strategy formulation phase. Finally, some considerations and issues are raised about the implementation of the strategic choices, as strategic execution is one of the main keys to business success.

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