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Business Strategy: Choosing the Right Fit

Author

Listed:
  • Gabriela Nicoleta AndriÈ™an

    (The Bucharest University of Economic Studies)

  • Andra Modreanu

    (The Bucharest University of Economic Studies)

Abstract

According to the available strategy literature, companies constantly adapt their business strategies in response to their ever-changing environment. This variation can make it difficult for businesses to choose the best strategic fit. When someone selects a business strategy, he/she must take several steps to achieve his/her aims. As a result, determining the best strategic framework for achieving the end goal is a critical first step. A strategic mindset and vision can help an organization determine its best strategic approach. The paper proposes a conceptual framework for developing a business strategy that will allow a company to meet its stated objectives. The existing literature review produced a synthesis of the required steps, leaving room for future research.

Suggested Citation

  • Gabriela Nicoleta AndriÈ™an & Andra Modreanu, 2021. "Business Strategy: Choosing the Right Fit," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 570-574, December.
    • Handle: RePEc:ovi:oviste:v:xxi:y:2021:i:2:p:570-574
    as

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    References listed on IDEAS

    as
    1. Sorin-George I. TOMA & Anca BRATU & Marin BURCEA, 2013. "When Business Strategy Meets Creativity," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 2, pages 148-153, October.
    2. Sorin-George Toma, 2008. "What is Six Sigma ?," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 8(1), pages 152-155, December.
    3. Jamil Anwar & S.A.F. Hasnu, 2017. "Strategy-performance relationships," Journal of Advances in Management Research, Emerald Group Publishing Limited, vol. 14(4), pages 446-465, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    strategy; business strategy; company; strategic tools;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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