{"id":1961,"date":"2020-01-18T15:19:55","date_gmt":"2020-01-18T15:19:55","guid":{"rendered":"https:\/\/www.cmgconsulta.com\/?p=1961"},"modified":"2021-08-08T15:33:12","modified_gmt":"2021-08-08T15:33:12","slug":"why-do-you-need-a-business-strategy","status":"publish","type":"post","link":"https:\/\/www.cmgconsulta.com\/why-do-you-need-a-business-strategy\/","title":{"rendered":"Why do you need a Business Strategy?"},"content":{"rendered":"
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In business you constantly take decisions on projects, developments, investments, hiring and timelines to name a few. In addition, your business does not operate on its own in a vacuum but in a market in which you have competition. So, in business you need to have a plan on how you are going to win over your competition and break into the market. Having a business strategy means working according to a framework that creates a space for decision making. It also means having a plan that enables you to surpass your competition.<\/span><\/div>\n<\/div>\n
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A business strategy is a thought process that amongst others: <\/span><\/div>\n<\/div>\n
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    Examines and learns<\/strong> from the past;<\/span><\/div>\n<\/li>\n
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    Evaluates<\/strong> the current situation of a business; and<\/span><\/div>\n<\/li>\n
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    Anticipates<\/strong> future business opportunities<\/strong> and market\/business risks.<\/span><\/div>\n<\/li>\n<\/ul>\n
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    The processes enable the business to understand its organisational needs. Therefore, all businesses, from one-person start-ups to established global multinationals, should have their future existence based on a strategy.<\/span><\/div>\n<\/div>\n
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    In practice, a strategy will allow a thought process capable of looking ahead and<\/span><\/div>\n<\/div>\n
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      Planning<\/strong> what type of products and\/or services should be maintained\/developed and delivered to customers;<\/span><\/div>\n<\/li>\n
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      Helping to identify the type of customers<\/strong> you want to reach;<\/span><\/div>\n<\/li>\n
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      Identifying which markets<\/strong> you want to operate in; and<\/span><\/div>\n<\/li>\n
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      Perhaps which other markets you would want to prepare to penetrate in the future<\/strong>.<\/span><\/div>\n<\/li>\n<\/ul>\n
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      A business strategy is therefore not about what is right or wrong, but it is about being in a position where informed decisions can be taken. The end objective of this is to enable your business to make profits and to win over competition.<\/span><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

      In business you constantly take decisions on projects, developments, investments, hiring and timelines to name a few. In addition, your business does not operate on its own in a vacuum but in a market in which you have competition. So, in business you need to have a plan on how you are going to win […]<\/p>\n","protected":false},"author":4,"featured_media":1962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28,36,39,31,30,38],"tags":[],"yoast_head":"\nWhy do you need a Business Strategy? - CMG Consulta<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cmgconsulta.com\/why-do-you-need-a-business-strategy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why do you need a Business Strategy? - CMG Consulta\" \/>\n<meta property=\"og:description\" content=\"In business you constantly take decisions on projects, developments, investments, hiring and timelines to name a few. 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