1.Managers at all companies face three central questions in thinking strategically about their company’s present circumstances and prospects: Where are we now? —concerns the ins and outs of the company’s present situation — its market standing, how appealing its products or services are to customers, the competitive pressures it confronts, its strengths and weaknesses, and its current performance — Where do we want to go? — deals with the direction in which management believes the company should be headed in terms of growing the business and strengthening the company’s market standing and financial performance in the years ahead — How will we get there? — concerns crafting and executing a strategy to get the company from where it is to where it wants to go.
II.What Is Strategy?
1.A company’s strategy is management’s game plan for how to grow the business, how to attract and please customers, how to compete successfully, how to conduct operations, and how to achieve targeted objectives.
2.Normally, companies have a wide degree of strategic freedom in...