Module 4 (4.1): Strategic Plansouthern New Hampshire Univers

Module 4 (4.1): Strategic PlanSouthern New Hampshire UniversityMBA 540: Organizational Strategy in Global Environment Infographic 09:11:42 GMT -05:00Business StrategyBusiness Strategy is the method in which a company identifies the best practices to havea competitive advantage in their respective markets. Management (strategic leaders) will use this to identify goals and set objectives for the company which will be disseminated down to lower levels. A successful business strategy will benefit not only the business but also the stakeholders who are accountable for the business’ success.A strong business strategy is formed first by knowing the company’s mission/vision (which will explain the business purpose). Next, the powers that be will develop a SWOT analysis – strengths, weaknesses, opportunities, and threats. We will use a SWOT to help streamline both external and internal analyses to help determine profitability, and consumer desirability. After this part of the SWOT is done, we can move forward with determining attainable goals, and then implementing actionable steps.Business Strategy is created by strategic leaders which include stakeholder, executives, and boards. After these groups of people have created their business strategy, it is then spread to lower management leaders who continue the spread of the business goals.Corporate vs.