WHAT IS A BUSINESS STRATEGY?

Business Strategies

WHAT IS A BUSINESS STRATEGY?

A business strategy is a plan of action designed to achieve a specific goal for your company. According to Henry Mintzberg, in his book, “The Rise and Fall of Strategic Planning”, points out that people use “strategy” in different ways.  Strategy is a plan of action getting from here to there. Strategy is a pattern in actions over time. Strategy is position that reflects decisions. Strategy is perspective that is vision and direction. Strategy is the course we chart, the journey we imagine and, at the same time, the course we steer, and defining the trip we make.

Business strategies guide your decisions and actions are critical to your long-term growth. Strategies allow you to develop actions necessary to address your strengths, weaknesses, opportunities and threats (SWOT).  Strategies involves setting goals, determining actions to achieve the goals, and how the end objective will be achieved.

WHAT IS A SWOT ANALYSIS?

SWOT analysis is a business analysis technique used regularly provides the tools and information necessary to establish strategic planning and objectives for deciding on the best way to achieve future growth. It’s a relatively quick way to look at organizational strengths, weaknesses, opportunities, and threats.

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What is Cash Discount Pricing?

Cash Discount Pricing allows an incentive that a merchant offers to their buyers to pay with cash. Offering merchants Cash Discount Pricing allows them to pass along their credit card processing costs to their customers. This effectively eliminates a merchant’s credit card expense except for a manageable monthly fee of $30.

Gift Cards

That’s why attracting and retaining customers is the top priority for any small business.

  • Gift cards are a good deal for businesses.
  • Not only do they guarantee that customers will spend the money at your store.
  • Have the potential to attract in new customers.

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