concept of business strategy

Environmental changes are having far reaching impact on modern business organization.The challenges come from;

• Globalization :The world is becoming on big market.
• Information communication technology :The world is becoming on small village.
• Political -economics grouping :integration among counties is increasing.
• socio-cultural shift :cross-culture influence are increasing. Business organization need a long-term horizon to cope with the emerging challenges.They need strategic orientation to achieve objectives effectively to meet the expectation of multiple stakeholders. Strategy is a means to achieving long-term objectives. It is a broad action plan.It provide long term direction and scope to the organization.it is a road map for future actions .Strategy focuses on matters of strategic importance.Its thrust is to search competitive for the organization .It is based on strategic advantage in resource strength,human resource capabilities and core competencies.