compare strategy of tim horton s to starbucks. compare strategy of canadian tire to walmart. compare strategy of porter airlines to air canada. a number of different tasks need to be coordinated to deliver a product or service therefore a company needs a business strategy. a strategy is a broad-based formula for how a business is going to compete, what its goals should be, and what plans and policies will be needed to carry out those goals. a stakeholder is a person or entity that has an interest and an influence on how a business will function. a stakeholder can be external or internal relative to the business. all open systems have an organizational boundary that separates them from their environment but still allows them to interact with their environment. to transform inputs into outputs (goods and services) organizations need to perform a series of steps known as a business process.