_ eBooks → Business Strategy | Bushiness Studies

What is Strategy? | Chapter 1 (ZH_1.1)

At the core of business in the 21st Century are competitive advantages and sustainable business. Technology advances have enabled organizational agility and responsiveness. It has also enabled competition through new market entrants and advanced efficiency. All firms face pressure to be more productive, efficient and cost-effective, increasing profitably and wealth for stakeholders. Michael Porter is considered the pioneer of strategy with his generic strategies model, Industry Analysis model and the focus on building profitable firms in competitive environments (Porter, 1986). Porter focuses strategy on finding ways to position your firm uniquely in the market place, so your position is difficult to duplicate and replicate by others. The success of strategy comes in finding this and then investing in it. Porter positions strategy as how we can balance activities to create a unique practice.
  • Business Strategy | Chapter 1
Completion rules
  • All units must be completed