In today‟s competitive business environment, organizations have to go beyond than just doing business. They have to think long term, the planning which not only keeps in mind the ongoing business but also plan outs future possibilities.
Strategy is like charting out the map which we would we travelling in future, with respect to all the possible threats and opportunities which will come in the journey.
Managing the internal activities of the firm is a small part of the modern world strategy. The current world executives also must cater to the problems faced by the firm in external environment.
The very broad external environment includes competitors, suppliers, vendors, scarce resources, government agencies, political fluctuations and customers whose preferences often shift inexplicably.
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