Posts Tagged ‘Debt’

Corporate Strategy And Marketing

November 23rd, 2022

‘Strategy’ is a buzz word within the business world which has been thrown around in every corporate circle, business function, yearly kick-off conference and staff meeting for absolute years, but does everyone truly understand what it really is and how to maximise its potential?

What Is Strategy?

Strategy, within a business context, is commonly confused with strategic planning. Strategy is about the ‘what’ and ‘why’ of intended goals and objectives to reach, whereas strategic planning is about the ‘how’ to achieve them through tactics, campaigns and actions.

Strategy is all about the choices we make in utilising our resources within a competitive environment and relative to our customers, which give our organisation the distinct advantage at a point in time. Therefore, strategy is identifying the next ‘big thing’ before others do, and gaining a competitive edge in it to be able to take full advantage.

How Is Strategy Changing?

Business strategy is rapidly changing with the ever emerging trends and shifting developments within the modern, very connected world. In the past, the business concept and plan was set in stone and only changed yearly (if that). However, this is not flexible enough any more and will result in a poorly performing, stagnate organisation, lacking in innovation. This is why most of the top performing companies in years past, such as Kodak, are now nowhere to be seen today. Businesses must treat strategy as a living, evolving entity, ensuring that emerging trends, opportunities, threats and new information are all taken into account and integrated into it accordingly.