Those who have a good strategy are optimally armed for the future. Any company wishing to be successful for the long-term must be prepared for the future. No company can get by without working out a strategy.
A good, solid company strategy does not just list objectives, which may have been predetermined by the capital market. Instead, it provides a comprehensive depiction of how and by what means and under which circumstances certain objectives are to be achieved.
The focus of any strategy – substantiated by empirical research – is on the following objectives: a defendable market position (this is more than just market share), a competitive cost position as well as a leading ability to innovate. These objectives are determined above all by the strategic need that not only makes the survival of a company possible, but ensures it in the long term.