Question

A strategic plan is a carefully crafted set of steps that a firm intends to follow in order to be successful. The business model is a central element of a firm’s strategic plan and describes the process whereby a company hopes to earn profits and outperform the competition. The importance of an effective strategy cannot be overstated. With this in mind provide a substantive response to the questions below: Think about the best and worst companies you know. What is extraordinary (or extraordinarily bad) about these firms? Are their strategies clear and focused or difficult to define? Explain.

Answer 1

Answer:

A business model integrated with the well-developed and analytical strategic plan is essential for any company that plans to achieve market position, without these two tools it is impossible for a company to survive in the highly competitive market in the long term.

It is through the business model and strategic planning that the company identifies itself, outlines its mission, values ​​and action plans to achieve the objectives.

The most successful companies in the world are well-organized companies, who know what direction they want to go, their identity, their strengths and weaknesses, their competitors, etc.

A company with clear and focused strategies is Apple, one of the largest technology companies in the world, which strategically sought to become the most important company in the world, therefore it developed innovative products that revolutionized the market and made the company a reference in the manufacture of cell phones, computers and electronic devices. Apple has created a value and consumer identity proposition for its products that was only possible thanks to analytical strategic decisions envisaged through effective planning.