Class Note -

Business strategy means the long-term plan for reaching specific goals. It is the game plan that guides us
towards our ultimate goals, keeping our mission and vision in mind. Mission is short-term as it defines
us, it gives an identity to us. While vision is long-term defining what we want to achieve.

Strategy can be associated with Growth, differentiation and competitive advantage. Because that is
what we want to achieve through strategy implementation. In short, strategy is about the creation of
values for different parties involved.

Value creation is done in the following hierarchy:

Companies put Shareholders before customers because customers are the ultimate means to achieve
their goals. As the firm grows, it creates value for not just its employees but also value chain partners.