Response to Passion Credle: Strategy: A Recipe for Success
A strategy is a plan that details the means to an end. In the culinary industry, a recipe lists the ingredients and how to combine them to create a delicious meal. For a business to be successful, it is necessary to form a plan with the steps to execute it. As a business is launched, it must have a competitive advantage to avoid being overlooked or obsolete. With so many similar organizations in the marketplace, how can a firm stand out? It needs a plan that generates a competitive advantage .
Strategy, according to Boyles, is a “clear set of business goals…that creates value for the firm, customers, suppliers, and employees” . A strategy analyzes a goal or several goals to determine its likelihood of success. It determines the following key factors when creating a competitive advantage for an organization: price, suppliers, employee recruitment and resource allocation . These factors and more will determine the quality and quantity of one’s product or service, thus affecting the outcome of the organizational goal.
Proverbs 29:18 states, “where there is no vision, the people perish”—within an organization, where there is no strategy, the goal will not be executed successfully (KJV).
