CORPORATE STRATEGY (INDIVIDUAL ACADEMIC REPORT) Essay

CORPORATE STRATEGY (INDIVIDUAL ACADEMIC REPORT) - Essay Example The strategy of any business observes an organisation from the viewpoint of their internal strengths and weaknesses and its opportunities and threats that are present in the business environment (James, 2004). Strategies are developed by the management by considering the business environment to gain competitive advantage from the current situation and look for the future growth and development that will benefit the organisation in the long run. There were many schools of thoughts that developed the basics of business strategy that guided the management to develop the strategies based upon these principles. The classical school of thought provided the strategy fundamentals that were based upon the managers’ ability and organisational hierarchy. The processual school of thought provided the fundamentals of business strategy that were based upon continuous development. The philosophy was that the strategy is a continuous process. The evolutionary school of thought provided the fundamentals of strategy that were based upon the concept of business environment (Harfiel, 2011). The business cycle compels the organisations to accept and amend their strategies as the market expands or contracts and any other changes takes place. The management directs the organisations in such business situation through mix business strategies and operational policies to earn revenues and market share along with meeting customers’ needs by means of efficient and effective business operations (Walden University, 2010). Operational strategy is important and organisations need to identify their operations to determine the strategies to gain success. Finding different solutions for operations of the company with different models will allow the management to access the benefit of progression in the business cycle through efficient operations (Walden University, 2010). Cadbury