Strategy is a blue print for the action plans in a business. It defines the procedures about how the plans are executed. Strategies are framed to achieve different types of goals and targets. It is done so that we don’t come across failure and achieve our targets. Without developing a strategy there is always a risk of failures of plans involved in business process. For every individual plans, the entrepreneur must design strong strategy. Strategy development involves complete study of all relevant factors and also requires prior consideration of multiple options and threats. The SWOT analysis for each plan helps in framing our modus operandi.
There are different techniques for developing strategies in business, which depends on individual situation and its demand. While adopting any of the strategy, we must understand that Defence and Attack are two key parameters for any successful strategy. Whenever we have a target to achieve we shouldn’t have the mindset that we are there to work on it and start running for the target. Till the time our backend is formed we will not be able to achieve our future targets and we will not be able to attack.
It is more like a war strategy; whenever a person goes into war he takes his sword along with his shield, he can be an expert with sword but if he doesn’t defend with shield, the enemy can kill him easily.
In present market where there is high competition, we must not ignore to safe guard our system from external interventions. It has been observed that entrepreneurs directly jump into an action plan without making it secured. We must not underestimate the strengths of our competitor. So a strategy for defence is very essential. Attack is execution for the targets. Hence, we need to make sure that both the defence and the attack strategies are in place and we are applying it simultaneously to achieve our targets. Try to be a surfer. Watch the ocean. Figure out where the big waves are breaking and adjust accordingly. Devise a frame work through which successful implementation of tasks is possible.