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Essay text:
What Is Strategy?
1. A company’s strategy is management’s game plan for how to grow the business, how to attract and please customers, how to compete successfully, how to conduct operations, and how to achieve targeted objectives.
2. Normally, companies have a wide degree of strategic freedom in choosing the “hows” of strategy:
a. They can compete in a single industry.
b. They can diversify broadly or narrowly.
3. Markets are usually diverse enough to offer competitors sufficient latitude to avoid look-alike strategies.
4. At companies intent on gaining sales and market share at the expense of competitors, managers lean toward most offensive strategies while conservative risk-avoiding companies prefer a sound defense to an aggressive offense...
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