Executive Summary of Business Strategy Frameworks Business strategy development is crucial to any organization's success, whether you're a mid-size business or a multi-national enterprise. In today's global and connected business world, business strategy development has become increasingly complex and fast paced. Business strategy frameworks are often used to help structure difficult business situations into understandable and attackable issues.
Oftentimes, brand name strategy consulting firms, such as McKinsey, Bain, BCG, and Booz Allen, are hired to bring an third party perspective and corporate strategy expertise in addressing these business problems.
Here is a basic video on business strategy.
Business strategy teaches us the business frameworks developed by Michael Porter, such as Porter's Five Forces and Porter's Value Chain. Other common business strategy frameworks include BCG's Growth-Share Matrix, Blue Ocean Strategy, Value Innovation, Product Lifecycle, and Balanced Scorecard. You can explore a full library of various consulting-quality business strategy presentations at this site. Business frameworks exist for specific functional areas, such as IT strategy, procurement strategy or strategic sourcing, and financial management.