Business Strategy

Business Strategy

[Author’s name]

Business Strategy

The perspective of business strategy is established as the major indicator by the researchers to determine its effectiveness in the overall form of business. The main focus of this research work is to determine how the appropriate business strategy can be helpful for the business entities to achieve their objectives of performance and business enhancement ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"wk3imrzf","properties":{"formattedCitation":"(Gonz\\uc0\\u225{}lez-Rodr\\uc0\\u237{}guez, Jim\\uc0\\u233{}nez-Caballero, Mart\\uc0\\u237{}n-Samper, K\\uc0\\u246{}seoglu, & Okumus, 2018)","plainCitation":"(González-Rodríguez, Jiménez-Caballero, Martín-Samper, Köseoglu, & Okumus, 2018)","noteIndex":0},"citationItems":[{"id":1089,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/4CRF2LJ2"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/4CRF2LJ2"],"itemData":{"id":1089,"type":"article-journal","title":"Revisiting the link between business strategy and performance: Evidence from hotels","container-title":"International Journal of Hospitality Management","page":"21-31","volume":"72","author":[{"family":"González-Rodríguez","given":"Maria Rosario"},{"family":"Jiménez-Caballero","given":"José Luis"},{"family":"Martín-Samper","given":"Rosario Carmen"},{"family":"Köseoglu","given":"Mehmet Ali"},{"family":"Okumus","given":"Fevzi"}],"issued":{"date-parts":[["2018"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (González-Rodríguez, Jiménez-Caballero, Martín-Samper, Köseoglu, & Okumus, 2018). The perspective of business strategy can observe in many different practical forms that help to achieve the desired outcomes of business enhancement.

The main aim of this research article is to critically identify the prevailing connection between business strategy and the overall domain of the performance. It is worthy to mention that the particular context of the hotel industry is considered as the example by the researchers to evaluate the impact of suitable business strategy on the business performance level. Growth strategy is one major form of the overall domain of the business strategy that helps to achieve the desired level of performance ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"O1BflKhY","properties":{"formattedCitation":"(Akter, Wamba, Gunasekaran, Dubey, & Childe, 2016)","plainCitation":"(Akter, Wamba, Gunasekaran, Dubey, & Childe, 2016)","noteIndex":0},"citationItems":[{"id":1090,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/XEN4LG24"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/XEN4LG24"],"itemData":{"id":1090,"type":"article-journal","title":"How to improve firm performance using big data analytics capability and business strategy alignment?","container-title":"International Journal of Production Economics","page":"113-131","volume":"182","author":[{"family":"Akter","given":"Shahriar"},{"family":"Wamba","given":"Samuel Fosso"},{"family":"Gunasekaran","given":"Angappa"},{"family":"Dubey","given":"Rameshwar"},{"family":"Childe","given":"Stephen J."}],"issued":{"date-parts":[["2016"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Akter, Wamba, Gunasekaran, Dubey, & Childe, 2016). This particular article reveals that proper application of the business strategy in the form of the growth that helps employees to achieve a higher level of their performance. The outcomes of this study indicate that the approaches of the firm’s assets and strategies directly linked with the required form of performance. It is crucial to overview the implications of the business strategy in the context of different industries ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"zffv5hdz","properties":{"formattedCitation":"(Love & Roper, 2015)","plainCitation":"(Love & Roper, 2015)","noteIndex":0},"citationItems":[{"id":1092,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/W2HCY8D2"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/W2HCY8D2"],"itemData":{"id":1092,"type":"article-journal","title":"SME innovation, exporting and growth: A review of existing evidence","container-title":"International small business journal","page":"28-48","volume":"33","issue":"1","author":[{"family":"Love","given":"James H."},{"family":"Roper","given":"Stephen"}],"issued":{"date-parts":[["2015"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Love & Roper, 2015). Proper consideration of the business strategies in the business setting can be helpful to enhance the performance of the workers in any form of organization. This certain argument is valid because growth strategy is the basic requirement in case of any form of organization or industry.

In the nutshell, it is established that managerial implications play a critical role when it comes to the achievement of desired outcomes of strategic management. There is a need for proper alignment between all the shareholders to achieve the required outcomes of business strategy and the overall performance.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Akter, S., Wamba, S. F., Gunasekaran, A., Dubey, R., & Childe, S. J. (2016). How to improve firm performance using big data analytics capability and business strategy alignment? International Journal of Production Economics, 182, 113–131.

González-Rodríguez, M. R., Jiménez-Caballero, J. L., Martín-Samper, R. C., Köseoglu, M. A., & Okumus, F. (2018). Revisiting the link between business strategy and performance: Evidence from hotels. International Journal of Hospitality Management, 72, 21–31.

Love, J. H., & Roper, S. (2015). SME innovation, exporting and growth: A review of existing evidence. International Small Business Journal, 33(1), 28–48.