Good business strategies and a proper business organizational structure lead to the growth and improvement of business activities. A business strategy is therefore a long-term plan that a company creates for it to reach a desired future state. This plan incorporates, goals, objectives as well as the goods and services that a business offers. Accordingly, a business organization structure refers to a system that outlines how activities are directed to achieve the goals and objectives of the organization. These structures determine the flow of information within the business from the managers to the employees and even the customers.
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STEPS TO CREATE GOOD BUSINESS STRATEGIES
There are five main ways that create good business strategies. Firstly, the gathering of facts helps the business organization to determine the opportunities ahead. Secondly, the development of a vision statement which therefore helps the business to describe its direction and aims. Thirdly, the development of a mission statement mainly helps to define the organization,s purpose. Fourth, the identification of strategic objectives. This stage highlights both the priorities and plans that ensure the achievement of the visions. Lastly, there is performance management. This stage mainly involves the implementation of an action plan by the business organizational structure to ensure that all the members know what they need to do.
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IMPORTANCE OF A GOOD BUSINESS ORGANIZATIONAL STRUCTURE
A good business organizational structure is important in the following ways. It allows for better communication since it forms clear lines on how to conduct communication. It also helps to clear reporting relationships therefore all members know their responsibilities and whom they are accountable to. Additionally, it helps in the expansion and growth of a business since it employs good business strategies that ensure better use of resources. Moreover, it brings about efficient task completion since managers know what resources are needed for the completion of tasks.
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