What is strategy? How does strategy relate to a firm’s profitability?
What is the difference between profitability and profit growth?
Expert Answer
A strategy is the creation of an action plan to achieve a long-term goal and also to keep all the people in team aware of the required actions to reach that final goal.
A company without a strategy is like a car without the fuel. The car is functional and confident enough to reach the destination but the required fuel is not available. The strategy plays the same role in running the business. Without the strategy, the company might
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