The Field Of Business Strategy - 1092 Words

Billy The field of Business Strategy is wide and uncertain. It preaches that balance is benefit, and in order to successfully operate a company comprised of many moving parts requires a more general knowledge of everything, rather than a specialization in a few areas, and lacking general knowledge of the rest. What is best to do for business isn’t a formula, or an algorithm, or anything plain and simple. It is like chess strategy, save the few situations that involve an early end of game. It is not known if offence is better than defense, and decisions are based upon the current situation, but decisions, early ones especially, are guided heavily by instinct. There is no â€Å"right move†, or rather there are multiple, many in the business†¦show more content†¦It is no surprise, therefore, that it is becoming a dependable and beneficial resource to companies. Also, extensive tasks that are essential to business operation must be completed by a team, tasks that involve moving parts in a changing market, and therefore the ability to work in a team is a valuable asset for employees, and the ability to craft a team that will work efficiently is a valuable asset to the business strategy of managers. But does there need to be a team for everything? The author articulates that to put a team on a small or simple task actually becomes inefficient. The decision to make a team stems from wanting an efficient allocation of resources. Since some work better on their own, that makes them valuable when it comes to small or large and simple tasks, that would not benefit much from the differing opinions of a team, nor the manpower of a team. The next idea I identified was to build from the bottom. In an article that examined what successful CEOs know and do, two of the four sections are: â€Å"They Know the Whole Business† and â€Å"They Know the Industry†. A little can go a long way when it comes to business strategy. In order to develop an effective business strategy, and therefore the most important foundation of business strategy, is to build from the bottom, including building your own knowledge. Other articles I examined included a start up phone