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Strategies for Launching Businesses

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In your expert opinion, define strategy and why it's important. You are the CEO of a new small computer repair company. Recognizing that there is another company repair company in your area that is doing well, you decide to go into this business as well. What strategies will you use to get a share of this business area?

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Solution Summary

The solution introduces strategy by defining it and its importance to a company. A situational question is given about going into the computer repair business and the strategies one will use to get a share of the business area.

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Strategy, in my opinion, is a set of action plan and activities designed to achieve the longer term goals, objectives, mission and vision of an organization by creating sustainable competitive advantage for the organization as well as by exploiting its strengths and opportunities available in the marketplace. Strategy also helps an organization to address its weaknesses and threats and allows the firm to address competitive threats with greater ...

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Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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