Why business strategy is important?

96 Precent of Businesses Fail within Years

To build a successful business, You mus thave a strategy. 

Strategies look at these future risks and help develop ways in which they can overcome these obstacles.

Here are some reasons why having a strategy is important:

• Guide. A well defined business strategy will offer a guide on how your business is performing internally.

• Trends, A strategy can identify trends and opportunities in the future.

• Vision, A business strategy creates a vision and direction for the whole organisation. It is important that all people within a company have clear goals and are following the direction, or mission of the organisation.