Strategy addresses fundamental issues such as the company’s position in its industry, its
available resources and options, and future directions. A strategy addresses questions such as
the following:
• What is the long-term direction of the business?
• What is the overall plan for deploying resources?
• What trade-offs are necessary? What resources will need to be shared?
• What is the company’s position compared to that of its competitors?
• How does a company achieve competitive advantage over rivals in order to achieve or
maximize profitability?
