In business, it is important to set a goal. It is also important to achieve that goal. The attainment of business goals is possible through effective business strategies.

1. Socrates Vasiliades tax - The Aspects and Levels Concerned in
Business Strategy
In business, it is important to set a goal. It is also important to achieve that goal. The attainment of business
goals is possible through effective business strategies. Business strategy is the plan that defines the following
aspects of your business plan:
Direction. Every strategy should be geared towards the identification and attainment of long-term goals. The
direction of the business plans that you will formulate should be consistent with the realization of these long-
term objectives.
Market or Scope. It is also important to include the market in the evaluation of your strategies. In this manner,
you will be able to determine your competitors and perform the activities needed in maintaining the
competition in the market.
Advantage. This involves the determination of the things that will make you stand out against your
competitors and how you can use them well toward the attainment of your business goals.
Resources. This includes every single factor that will serve as your asset in the market. Skills, expertise,
finance, relationships, manpower, and facilities are part of the resources that you can utilize in your strategy.
Environment. This refers to the external factors that are involved in the market's competition. This can be
broken down into two groups: the macro factors which involve the political, legal, social, and cultural factors
and the micro factors which involve customers, competitors, and suppliers.
Stakeholders. These are the people who have power and influence in the market. Their values and
expectations play a big role in the competition and in the formulation of your strategy as well.

2. You can see that in the formulation of your business strategy, most of the aspects that you have to deal with
are concerned with the market and the competition. More importantly, strategies are created in order to
create a substantial effect on the organization of the business. Business strategies are created in accordance
with the levels of the business. Strategies can be formulated in the corporate, business unit, and operational
levels.
At the corporate level, the strategies are formulated in accordance with the overall purpose and scope of the
enterprise. Corporate strategies are those that you normally see in the mission statement of businesses.
In the business unit level, strategies are created to achieve competitiveness in the market. These are strategic
decisions influencing product choices, customer needs, market competition, and new opportunities in the
market.
At the operational level, the strategies are concerned with the organization of the business and its parts. This
is the application of the corporate and business unit strategies in the operations of the business.
A business strategy can influence the overall performance of your enterprise. Because strategies are created at
all levels of the organization and imposed to achieve business objectives, it is imperative that the formulation
of these strategies should be directed toward its implementation in the organization.
An effective strategy is possible by understanding the nature of each aspect that influences the market. More
than the formulation of these strategies, it all boils down to how they can be implemented within the
organization and how they can affect the actual and potential marketplace.