Strategy: “where we are going and why”

A company’s strategic vision:

a. Concerns “what strategic approaches should we adopt to implement and execute our business model?”

b. Provides an answer to “who are we, what do we do, and why are we here?”

c. Is typically focused on a company’s present business scope (its present capabilities, customer focus, activities, and business makeup) and what needs to be done to successfully out compete rivals in the marketplace.

d. addresses the issue of “where we are going and why.”

e. Deals with “what business approaches and operating practices should we employ in executing the strategy and achieving sustainable competitive advantage?”