Factors to Consider When Assessing a Business Strategy

A business strategy is the most crucial dynamics in the success of a business. It is the visionary plan that creates a picture of how a business is going to operate and overcome competition. This is done by looking at the strengths to maximize on and identifying the weaknesses then finding solutions. Both new and existing business strategies need assessment. In both formulation and evaluation, several factors should be considered. These include: Internal Environment Everything starts from within. Initially, business models focused solely on satisfying the customer. In the modern business world, however, there is an increased focus on satisfying the employee to make them more productive. Such satisfaction encompasses…