Importance of an effective strategy

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Reference no: EM13952071

A strategic plan is a carefully crafted set of steps that a firm intends to follow in order to be successful. The business model is a central element of a firm's strategic plan and describes the process whereby a company hopes to earn profits and outperform the competition. The importance of an effective strategy cannot be overstated. With this in mind provide a substantive response to the questions below:Think about the best and worst companies you know.

What is extraordinary (or extraordinarily bad) about these firms?
Are their strategies clear and focused or difficult to define? Explain.
250 words with references please

Reference no: EM13952071

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