Business Strategy: Choosing the Right Fit

Abstract

According to the available strategy literature, companies constantly adapt their business strategies in response to their ever-changing environment. This variation can make it difficult for businesses to choose the best strategic fit. When someone selects a business strategy, he/she must take several steps to achieve his/her aims. As a result, determining the best strategic framework for achieving the end goal is a critical first step. A strategic mindset and vision can help an organization determine its best strategic approach. The paper proposes a conceptual framework for developing a business strategy that will allow a company to meet its stated objectives. The existing literature review produced a synthesis of the required steps, leaving room for future research.

Keywords

• strategy
• business strategy
• company
• strategic tools