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Strategy serves the pillar on which the basis of the business lies. To increase business productivity, it is required to put in place the strategy which well planned and based on facts and figure. Nitty-gritty of any business strategy includes the mission, vision, and goals as well as the values of the organization. In conjunction to this, it also takes into account the course of action taken by the persons belongs to higher echelons.
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strategy is defined as the set of defined rules which all must adhere to make business environment feasible. The first and foremost thing that comes while deciding setting the goals is to decide set the mission which takes into account the business objectives. These objectives will be circulated among the employees to accomplish the task in the defined by the upper level in the management.
once the goal has been set, the next step involves is to deep dive of the previous steps to check everything is in line with what was decided. Careful examination of the internal and external facts and figures estimated. Gauge the strength and weakness of the organizations and looks after the threats and opportunities.
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This step plays a crucial role in deciding the strategies which are best suited to sort the issues that the company is reeling into. Strategy is the step ahead, which place importance to the issues which need prior attention and should be resolve on immediate basis. This steps is very crucial to the success of the organization therefore should be give attention on instant basis to prevent its adverse effects.
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This step catch hold of any pitfalls resulted with wrong implementation. Management also checks if we are getting the things with what is expected and if not then measures to counter this.
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