Strategy

Neville Bain

Chapter 6 in Successful Management, 1995, pp 86-103 from Palgrave Macmillan

Abstract: Abstract Strategy is an essential building block for the company that is striving to maximise long-term value. It is based on the concept of finding a direction that yields a sustainable competitive advantage. To achieve this there is a need to analyse the wider environment, to pick out trends, to look carefully at customer requirements and to know in depth the qualities of competition. After the analysis and the evaluation, a strategy is defined which is a well-coordinated set of action programmes across the business, focused on longer-term value. To arrive at this position, the company will ensure linkage to the mission statement and be satisfied that the strategic plan builds from strengths to develop opportunities, but at the same time properly deals with the corporate weaknesses or threats to the business.

Keywords: Core Competence; Successful Management; Chief Executive; Middle Manager; Corporate Strategy (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37415-7_6

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DOI: 10.1057/9780230374157_6

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