A strategy is a long-term plan that you create for your business to achieve the desired future state that you envision. The strategy includes your business goals and objectives, the type of products / services you plan to create, the customers you want to sell to, and the markets you serve for profit.
A strategy is reliable if all the assumptions you make during its creation have been validated and verified for accuracy, and the decisions you make can be presented with clear facts and evidence. It’s important to make sure your strategy is aligned with your company’s goals, the type of business your organization does and is known for, and the environment in which you plan to thrive. For example, Google’s vision is to provide users with the best online experience. It is commonly known as Google Search. All products and services created by Google are in line with its main objectives.
A good strategy will help you make the right investment decisions, like how and where you want to spend your money. It also helps provide guidance for prioritizing projects and other activities in your organization. Allocate and optimize resources and earn profits that generate above-average income.
