Strategy Methods Interview Question:

What is the basic concepts business strategy?

Submitted by: Ali Hassan Siddiqui

Nowadays companies foster an identity of the company by formulating a mission. The mission can be supported by the articulation of typical four company values. The company identity is used for branding: what is the image of the company, how is the company perceived by the market, its customers and its shareholders. The mission and company values tend to be very generic, providing a direction to managers and employees. The leaders in the company formulate a vision: what value can the company bring to the world, what role can the company play. The vision tends to be more market domain specific and will evolve over time. A true vision is a powerful instrument, uniting the company employees by a shared vision. Unfortunately, too many visions are the result of a mechanistic process. The creation of a vision depends on leaders with the ability to combine a huge amount of context data in a sensible picture. A poor vision might result in ghost hunting or lack of cohesion in the organization.
Submitted by: Ali Hassan Siddiqui