A business level strategy is a carefully designed methodology that aids companies in implementing and carrying through with actions designed to meet the financial and other goals set by that business. A strategy of this type will address all key elements of the business operation, with various portions of the process aimed at maintaining excellent customer support to clients, providing quality goods and services, and generally taking actions that enhance the reputation of the business community as well as consumers. At the same time, a business strategy will seek to structure these actions so that the business is able to consistently generate profits and remain a viable business institution.
There is no one right way to structure an overall business level strategy. Both small and large businesses can engage in processes that together aid the operation in achieving its stated goals. Most strategy plans of this type will address three main areas as part of the foundation for the approach, with each one providing focus on how each segment of the operation will work together to achieve those desired goals.
A basic business level strategy will always include a clear understanding of the consumer market or markets that the business wishes to serve. Doing so makes it much easier to develop sales, marketing, and even operational procedures that aid in attracting the attention of those desirable consumers, earning their business, and establishing ongoing relationships that sustain the business over the long term. This part of the business growth strategy helps to define how employees interact with consumers, and how that interaction will result in developing customer loyalty.
At the same time, a viable business level strategy will also address how those customer relationships are created in the face of competition from similar business operations. Here, the goal is to understand what the competition has to offer, and how to convey to potential clients that a given company not only provides those same benefits, but also a few additional advantages. This type of competitive business strategy does not focus on price alone, but also promotes goods and services based on issues like superior delivery times, anticipation of client needs, and rapid response when a customer has a question or concern.
One element of a successful business level strategy that is sometimes overlooked is the nurturing of employee relationships and the cultivation of employee loyalty. Creating and maintaining policies and procedures that affirm the value of employees to the firm, and demonstrate that their efforts are greatly appreciated, can often minimize the rate of turnover in the work force. Employees who feel valued and properly compensated in terms of pay, benefits, and the working environment in general are more productive and have a vested interest in the ongoing good fortunes of the employer. As a result, employee efforts to develop and strengthen ties with customers, maintain high rates of efficiency, and in general promote the goals of the employer are more consistent and steady. With that level of support from employees and from customers, the chances for success are greatly enhanced.
