Business Strategy refers to the plan or approach that an organization adopts to achieve its long-term goals and objectives. It involves defining the company’s vision, mission, and core values, and identifying the resources and actions needed to implement the vision effectively. A business strategy outlines how the company will compete in the market, including decisions regarding product offerings, pricing, target markets, and distribution methods.
The essence of a business strategy lies in leveraging strengths and addressing weaknesses, while also considering external factors such as market trends, competition, and regulatory environments. It serves as a roadmap for the organization’s direction and helps ensure that all departments and employees align their efforts toward common goals.
Effective business strategies often include components such as market analysis, competitive analysis, value propositions, and strategic initiatives, which collectively guide decision-making processes and operations. The success of a business strategy is measured by how well it helps the organization to grow, adapt, and sustain its competitive advantage over time.
Henkel reported a significant increase in dividends, pledging €2.04 per preferred share, up from €1.85. In 2024, Henkel achieved adjusted EBIT of approximately €3.1 billion, rising from €2.56 billion the…