A business strategy is essential in so many ways. It is the guide that a company uses to gauge how they are fairing. It also helps business owners to identify areas that need improvement. Not having a business strategy is a recipe for failure. Having a weak business plan can also lead to frustrations and the ultimate closure of the business. Some of the mistakes businesses should avoid when coming up with a strategy are as follows. Making the Strategy Complicated There is a common misconception that a business plan should be full of financial jargon for it to be taken seriously. That is how businesses end up with strategies…

The impact of social media in building a business strategy is increasing. Companies had to adjust to this new type of communication in every field, from advertising and brand building, to the recruitment process. Why Social Media “Vertical” communication has been replaced by “horizontal” communication. Social media allows the user to show appreciation (or not) to a particular post, share, and comment on what they read with friends, colleagues, acquaintances. This is relevant to all kinds of personal and business connections. Businesses that know how to effectively use these channels can take advantage of the power of social media by attracting high profile candidates when they advertise for a job…