BU481 Chapter Notes - Chapter 2: Vertical Integration, Value Proposition
Document Summary
Strategy is the definitive tool for building, communicating, and maintaining the direction of a business. The intention of strategy is to take the basic ideas of a business, such as those reflected in the vision, mission and values, and to express them in operational terms (terms useful for analysis and action). Strategy plays a central role in the efforts of gms to establish, sustain and monitor the direction of their businesses. The concept of strategy provides a base point for organizing and discussing your understanding of what a business is all about. Most businesses are more complex and subtle than they seem on first view. The concept of strategy will help you to sort out what a business is doing and what it is doing differently than its competitors, and to communicate and discuss your views on these points. Strategy provides a vehicle for you to translate general ideas about direction and performance.
