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Financial Analysis

Essay by   •  December 27, 2011  •  Case Study  •  270 Words (2 Pages)  •  1,303 Views

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1.1STRATEGY

"Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations". (Scholes, Johnson , 2008)

In other words, strategy is about:

Direction, where the company is aiming to get to in long-term .It is about the market's scope which identifies the markets business should compete in and sort of activities that could be part of it.Competition in the market could be very high therefore correct strategy gives you an advantage over your competitors by improving your business performance.It is about the resources that are required in order to compete in the market such as skills,technical competence, facitlties, assets and finance. How does environmental factor and external surrounding affects the business ability to compete and what are the expectations and values of those who are directly or indirectly invovlved with the daily running of the business(stakeholders).

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1.2 BENEFITS OF STRATEGY

Good robust strategies have numerous benefits which helps the cause of your organisation.Strategies form a basis of infrastructure of the business as it helps to enhance the reputation by increasing profitability.Strategies when implemented by the managers make their task precise and easy which results in achieving their targets without dealing with complexity of inventing ideas for the growth.The strategies set by the business acts as a guideline of duties which each individual at each level is responsible for,hence creating cohesive uniformity and duty of responsibility among the employees which results in the expansion and growth of the entity towards success.

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