Mean Strategy Business Model Different Strategy Q34234565

What do we mean by strategy? How is a business model differentfrom a strategy?

Expert Answer

What do we mean by strategy?

Strategy can be regarded as an action that utilized by seniorManagement team to achieve the organizational goals, Strategy canbe defined as organization usually set a general direction and usevarious area of that direction to get the desired state in thefuture, Strategy can be resulted from detailed strategic planningprocess,

Further strategy can also integrate Organizational activitiesand utilizing, allocating scarce resources and achieve the targetwithin the organizational Context, further strategic planning workon decision making process and consider various stakeholdersengagement like competitors, Customers, Employees