Business Strategy is commonly referred to as the ‘heart’ and ‘soul’ of any business and organisation. The business strategy is generally defined as the ‘plan’ to achieve a certain goal, and it is situated at the crossroads of a company’s goals and values, resources and capabilities, structure and systems, and their industry environment (i.e. competitors, customers, and suppliers).
Without a proper business strategy, a company is likely to move in the wrong direction, which generally leads to business failure.