Business Strategy Marks and Spenser 19902004

The market economy requires constant monitoring and forecasting, determination of the long-term goals, and the strategies of their achievement. The problem of the successful functioning and quarantining the continuous development of an enterprise is the primary one in the conditions of the market economy, which provides a dynamic, changing, unstable environment. To manage the functioning of business in such conditions the managing system should be armed with a variety of reactions that give an opportunity to adapt to the constantly changing conditions.Business Strategy, being the combination of the philosophical and operational levels of strategic management, represents the only possible method of surviving in the dynamic conditions of the global market economy. It is a general plan of the firm’s development and improvement at all the level of its functioning, including all the aspects of objectives and goals. However, this plan is not rigid and constant, but a dynamic and changing phenomenon. Due to this dynamics business strategy provides an opportunity to meet and foresee all the market requirements, through the usage of unique resources and competencies. The strategy is a system of managing decisions concerning the determination of the promising directions of development, sphere, forms and methods of business activity in the conditions of the external environment, and the order of the resources distribution for the achievement of the set goals. At that, the decision “tend to be of medium or long-term nature” and be directed at “the whole transformation system” and “the resources, competencies, and capabilities needed” (Lowson 2003. Johnson and Scholes 2005. Slack and Lewis, 2004). Strategic management has become the major method of maintaining the sustainable competitive advantage of the firms. However, there are certain rules to be minded in order for your business strategy could become a success.