Information for accountancy students – syllabuses, exam papers, study guides | ACCA | ACCA Global accaglobal.com/en/student.htm…— Ken Ku-Chih (@kenkuchih) October 19, 2012
What Is Strategy?
Put very simply strategy can be defined as the way an organisation attempts to achieve it’s goals.
In questions where you are asked to appraise an orgainsation’s strategy just remember “Strategy Leads You” (LEADS U). This mnemonic will help remember some main concerns of strategy and so ideas/headings for your answer:
- Long term direction, usually over a number of years
- Exploiting resources and competences, what we’ve got and what we do well
- Achieving competitive advantage
- Dealing with external factors (the environment)
- Scope - i.e. what the organisation should be doing
- Understanding and delivering what stakeholders want
Really handy (& free!) E-Book crash course in Business Intelligence & Business Analytics for Retail.
*click on title*