Strategy at Different Levels of a Business Essay

Strategy at Different Levels of a Business - Essay Example It defines the tactics that will assist the company to realize its objectives. The business strategy also defines the number of resources that an organization requires and it is going to manage in order to achieve its goals. This business plan dictates the steps to be followed and the responsible persons for each step. Â  Business strategy is more than visioning, forecasting, and planning. Implementation is what matters most and this should be done carefully to ensure that there is a match between the internal capabilities of the organization and its external environment. The strategies should influence the position of the organization at any time. It should enable the stakeholders to understand the better ways of realizing the desired objectives. Application of the business strategy is very paramount as it bounds business operations together. Â  Corporate Strategy- business should meet the expectations of the diverse stakeholders; customers, employees, and the owners. This level of strategy deals with the objectives and the purpose of the business in satisfying the stakeholders. At this level, the owners or the investors are very influential as they act to guide the decision makers to achieving the stated goals. Â  Business Unit Strategy- Fair competition is a factor that cannot be neglected by the organization. It is imperative that the organization is in a position to compete successfully in the economy. This strategy is governed by the demands of the market hence the organization is obliged to ensure that the right products of the right quality are supplied in the market to enable it to compete with others competitively. At this level, the products should meet customers needs enabling the organization to outwit the competitors.