Business Strategies

PREPARED BY A THIRD-YEAR STUDENT

FACULTY OF IT
GROUPS 6.04.121.010.20.3
SOKOL ANTON
If you do business without a strategy, there will be
no profit in the company, and customers will be
stolen by competitors. To develop and increase
sales, you need to set primary and intermediate
goals, develop your staff, and analyse indicators.
Let's find out what a business strategy is, how it
helps a company grow, and how to develop one.
 What is a business strategy and why is it needed

 A business strategy is a blueprint for a

company's development, how to achieve
the goals and objectives that will lead to
success. It can be used to survive a crisis
and take the organisation to the next level:
to increase sales figures, attract new
customers, stand out from the competition.
 Objectives of strategy development

 A strategy is developed in order to prioritise areas of development

and to determine how the organisation is managed.
 Types of development strategies

Types of development strategies

Consider the scale of your business, your
goals and your growth opportunities in
order to choose the right strategy. You
don't have to stop at one, but you can
combine two or three.
 Basic

 Basic strategy is the planning of the development of products

and services, the company as a whole and its divisions. It
determines how to allocate resources between departments,
what to change in the management structure, what business
processes to implement for business growth. It is the most
complex and ambitious strategy to implement.
 Competitive

 A competitive strategy is needed to achieve a leading position in the market. For example,
to lure customers and outperform other organisations.There are three types of competitive
strategy:
 Cost minimisation. The aim is to make the costs of marketing, manufacturing and selling
the product lower than those of competitors.
 Differentiation. A company creates a unique product. For example, a restaurant develops a
menu and includes dishes that competitors do not have.
 Focusing. This is based on selecting a narrow group of customers.
 The results of the evaluation

 After the evaluation, the manager should have answers

to the following questions
 what the company plans to sell and what is needed to
do so;
 what resources are needed and whether the company
has them now;
 how much money is needed to achieve the strategy;
 how to attract customers and what it takes;
 which departments will be involved in the strategy and
how will they be motivated?
 What mistakes can be made

 The main mistakes occur at the research and planning

stage. They can be linked to a detachment from reality
and an incorrect analysis of resources. Some companies
do not take into account competitors' strategies or
changes in the market. Typical mistakes also include a
lack of understanding among employees how to achieve
results and problems with motivation.
 In a nutshell

 A business development strategy helps in the long-term planning of a company's goals

and objectives. It is a guide on how to achieve results.
 When formulating your strategy, analyse changes in the economy, national laws and your
own performance. Also consider your company's weaknesses and strengths.
 To implement the plans, determine the current state of the company and its capabilities,
plan for changes in the management structure.
 Identify risks and how to deal with them so that you can adjust your strategy in time.
Thank you for your attention