Business strategy is referred to in different ways by different people. The primary aim of this essay is to offer an indispensable discussion of what is meant by business strategy; the various features of a business strategy; and the reason as to why management of an organization puts most of its efforts in crafting a strategy that aims at constructing a competitive advantage in the market that can be supported to the fullest extent. Business strategy is partially prearranged as well as somewhat responsive, and it changes from time to time. Effective management of an organization consists of the ability to craft or develop a strategy, in conjunction with the effective ways how to execute it. 
Business strategy is referred to a plan that defines the goals and objectives of a company or organization. It brings into line the organization's vision, mission, and values with its various market opportunities, customer needs, and competitive advantages. It also describes the scope, course, and significance of the business, in line with its resources, capabilities, and processes that are required for it to attain them.
Business strategy is very vital for a number of reasons such as; it offers transparency and emphasis for the management and employees of the organization which ensures that every employee is working towards achieving the same goals and objectives. It assists the company to adjust to the changing environment, by identifying its strengths, weaknesses, opportunities, and threats, and developing suitable comebacks to handle the challenges that may be affecting the organization. It also builds significance for the stakeholders and this is attained by supplying greater products and services, improving customer satisfaction and loyalty, and increasing profitability and growth.

APA
Citation Here

MLA
Citation Here

CHICAGO
Citation Here