A long-term approach to implementing a firm’s business plans to achieve its business objectives the prime aim of a business strategy is to provide superior value, differentiation, and core competencies for an organization. The paper provides an insight into the mission, goals, and objectives of business strategy. It also looks at the ‘hierarchy of strategy’ and also explores the inter-relationship between the relative market and business policies.
Forming a successful business strategy involves creating a first-rate competitive strategy. Businesses must develop a plan that addresses ways to compete in their respective markets. The first step in accomplishing this is to identify the competition. Focusing on Etihad Air ways in air line industry they have to complete a large no of different companies and to come up with new and new innovation to compete and survive in the market. If we go through the strategies process, certain steps are involved as follows.
Etihad Airways has the world’s best First Class product and service. The confirmation of the news came today, Thursday May 20, at the announcement in Hamburg of the results of the latest Skytrax survey of 200 airlines across the world. The Abu Dhabi-based airline won three titles for its First Class at the Skytrax World Airline Awards, following a poll of almost 18 million global air travelers, from more than 100 countries.
Let’s have a loon on business strategic process in context of Etihad Air Ways. This process is most applicable to strategic management at the business unit level of the organization. For large corporations, strategy at the corporate level is more concerned with managing a portfolio of businesses.
