Strategy

Over the past few posts we have discussed a very important component of Business - The Business Model. While a business model gives the basic structure or revenue generating mechanism and ensures that a business is operational, it doesn't always guarantee the success of the business.

The world of business is filled with uncertainty on multiple aspects, be it internal like operation, human or external legal, governmental. All these create a highly uncertain future and leave successful businesses with almost nothing if they are not able to handle the changes in their business. Most of the time the changes are so powerful, that companies might need to change the direction of their business and act in a completely different way.

This is where the concept of strategy gains emphasis. Over the next few weeks, we would look at various businesses which have been able to handle the change in their business environment and been able to steer their business ship into the direction of their choice better than other. Understanding the nuances of the thought process and trying to adapt by building on these strategy would be a good starting point to look out.