To grow any business there needs to be a strategy in place. Listed below are some reasons why business strategy is important:
1. A business strategy enables you to leverage your strengths and finds ways to overcome your weaknesses.
2. It is through strategy that you can lay out a plan to be followed to fulfill your business goals.
3. When you have a business strategy in action, efficiency and effectiveness of your business improves.
4. You are in control of the happenings in your business.
5. Since you know about your strengths and weaknesses, you can gain competitive advantage over your rivals.