Once the vision and goals are outlined, strategy builders have to become conscious of their business’s strengths and weaknesses and the opportunities and challenges within the marketplace. This is as a result of the only function of a generic business strategy is to extend the company’s financial value for its house owners Business strategy or shareholders. For example, company A’s strategy might be to become the most affordable supplier in the smartphone market. Their managers then need to barter with suppliers to reduce back the costs of the digital parts utilized in manufacturing.
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