In business, fall is often the time to make plans for next year, often including adjusting or coming up with new strategies.
Few business concepts has a variation different connotations than strategy. From meaning a small plan to overcome a tiny obstacle or problem to creating a comprehensive guide for doing business. Strategy is about looking forward seeing the future and planning for it.
Startegy, at its best, is simply a plan to create value. Here is short, informative HBR-video explaining this value creation concept:
The starting point is how much and which value the company creates for its customers, employees and suppliers. Strategy then is for example, making working for the company more attractive through imporoved working conditions or more interesting tasks, increasing the employee value. Increasing the product quality for example, will increase customer value and hence willingness to pay for the company’s products and services.