Examples of Business Strategy
Various definitions of strategy do not provide its clear meaning and therefore, to understand its clear meaning, certain examples of business strategy become much useful. They are as under.
(1) If there is any oppose of employees, in respect of certain matters, which can be avoided by making some gradual and little changes in administration.
(2) Points, which are useful to the unit, should be taken for its immediate consideration, and for controversial matters, a committee should be appointed, for which, after some period, a positive solution can be made.
(3) When some official of unit is against of certain planning, an implementation of such planning can be entrusted to him, so that his opposition can be reduced to the some extent.
(4) While taking large purchase transaction decision, no negotiation should be done with only one businessman, but negotiation should be done with another competitor also, so that beneficial transaction can be finalized and unit can get benefit out of this
Out of above examples and definitions of strategy, its main characteristics are as under,
(1) Strategy accepts limitations of available resources to the unit.
(2) Strategy considers internal and outside circumstances, which are out of control.
(3) It accepts limitations, which are considered in managerial policy.
(4) Strategy takes opinion of important officers of the unit, into account.
(5) Object of the strategy is to bring speedy changes in the prevailing condition.
(6) It works as guiding factor during process in the unit.
(7) Strategy may be of whole unit or management’s personal.