What does lack of strategy mean?
Lack of strategy is when a business does not have any road map to follow or refer to when pursuing opportunities and running daily operations.
A business can face severe consequences when it lacks of strategy.
It would mean that the company lack of objectives, resources that are not properly allocated, unclear organizational structure, and/or not a good communication flow.
Definition of strategy
According to Harvard Business Review, 'a strategy involves a clear set of choices that define what the firm is going to do and what it’s not going to do'.
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Last edited on 16 April 2020.