The Five Stages Of Strategy: What Is Strategy

What is Strategy:
This video tries to explain the difference between strategy and tactics. It also high lights the components of a good strategy. According to this video Strategy is about planning a company’s next move and tactics is the physically carrying out of the plans. It can also be explained as Strategy is doing right things and tactic is doing things right. A strategy act as a backbone of the company on which who firm exist, it is about how to use company’s strengths against competitor’s weaknesses and hiding our weaknesses from competitors. Any Business can be divided into five stages of growth and according to (Lewis and Churchill, 1983) to be successful company require five different strategies for each stage. Five stages of

Strategy consists of four things;
⎫ What is our market or where do we compete?
In this an organization must know what is their target market? Where they have to compete? Who are their rivals and what are their possible strategies? And finally what should be the company strategy for survival in that competitive market.
⎫ What do we offer that is different from others?
An organization must know their strengths and weakness and they should know that how they can use their strengths to overcome their weaknesses this can be done through SWOT analysis (Hill and Westbrook, 1997).
⎫ What resources and capabilities are used to deliver those services or products?
A company must know that what is their product or service and do they have all the required resources or tools to offer the same to their customers.
⎫ How do we continue to deliver the same?
The most important aspect for a company to consider is to ensure that, will they be able to offer the same service or product in long run or not. This can only be done by Customer Satisfaction Measurement (CSM) (Woodruff,

He was not the brightest student yet he was the founder of face book. He has worked on the idea of connecting people in a virtual thread that no else has ever thinked off. He brought the innovation in communication and has grown dramatically. Face book work on differentiation and Business model innovation. This help the company to grow at a fast pace, larger than its original market (Wilson et al., 2012). According human psychology and Maslow theory of hierarchy we need an environment where we can become social especially this space is highly needed by extroverts, we are well aware of the fact that face book is mostly a waste of time and energy but still people spend whole day using it just because is business model is so successful that it has become our part of a life. The innovation of this company is not a one that no one can ever think of or it has not utilized it hand full of resources or and high technology but a simple rule makes a separate space for everyone. This innovation was not adopted by Hotmail, Gmail, yahoo, or others and they are still bearing its loss. A small website developed by a student is the market leader of business and social