{"id":63959,"date":"2019-03-05T17:33:45","date_gmt":"2019-03-05T12:03:45","guid":{"rendered":"https:\/\/www.vskills.in\/certification\/tutorial\/?p=63959"},"modified":"2024-04-12T14:31:51","modified_gmt":"2024-04-12T09:01:51","slug":"what-is-business-strategy","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/what-is-business-strategy\/","title":{"rendered":"What is Business Strategy"},"content":{"rendered":"

Certify and Increase Opportunity.<\/span>
\nBe <\/span>
\nGovt. Certified Production and Operations Management Professional <\/span><\/a><\/p>\n

What is Business Strategy | Production and Operations Management<\/h1>\n

Business strategy is crucial for a company’s success.<\/p>\n

It has various definitions, we discuss few imporant ones.<\/p>\n

Alfred Chandler, was a professor of business history at Harvard Business School and Johns Hopkins University and he defined\u00a0business strategy as, “the determination of basic long-term goals and objectives of organization, and the adoption of the course of action along with the allocation of resources necessary for carrying out these goals”.<\/p>\n

William F. Glueck a famous author of\u00a0has 19 books <\/span>on management and strategy, also defines business strategy as, “a unified, comprehensive, and integrated plan which has been designed to ensure that the basic objectives of the organization are achieved.”<\/p>\n

The above definitions of strategy, view it as a rational planning process. Hence, the major components of the strategic management process are:<\/p>\n