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Introduction
This assignment will present interpretations of the business strategy concept and analysis, strategy planning and formation, models. The concept of the business strategy is revised and formulated considering various authors approaches. Moreover, analysis of the business strategy formation process – steps of development and management, selection on strategy type are based on presenting strategic planning models. It will also analyse the company's investment and business strategy formation, coordination and evaluation aspects. Will introduce corporate and business unit strategy steps in planning cycle and use in practice.
Strategy and its importance
The one of the most significant parts of the business is the strategy. It helps to control the business growth and maintain its composition. The strategy is the direction and scope of an organisation over the long period, who achieved an advantage over its configuration of resources within a challenging environment, to meet market prospects and stakeholder implementation needs. Moreover, the strategy has been studied for a many years by the business leaders and business theorists. In the case of that it is really hard to describe the correct strategy, because every person has its own theories and thoughts. As revealed by theorist Peter Drucker (management consultant, educator and author) emphasised that the strategy need to analyse the current situation and if necessary to change it; Dan Schendel and Charles Hofer were developed a strategic management model, incorporating both planning and control functions. They have defined a strategy as the set of rules by the management decisions were accepted valuation of the underlying business objectives, situation analysis and plann...

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...r decisions. So the company's strategy is uncontroversial when strategic decisions are aligned with each other.
Moreover, strategic decisions depend on the organisation's vision and mission and objectives are an essential strategy forming element for the production of further strategic development and realisation phases. Also, the vision reflects the consumers of a product or service, market, technology, business growth prospects, business resources and skills of the personnel policy, the public prestige of the company. Furthermore the company's value determines its mission, the key elements are the following: consumers, the product or service, market, technology, philosophy, goals, self-expression, employees and associated activities. Finally, the objectives of the company are defined as quantify the desired results to be achieved within a specified period of time.