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why do companies decide to embark in strategic initiatives?

why do companies decide to embark in strategic initiatives?
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Answer #1

The following reasons support why companies embark in strategic initiatives:

1) It lends a new goal to the company. The company is able to comprehend in which direction it must proceed to maximise its payoff and profits

2) Implementation of strategy helps the company to keep its guard despite some instability arising in the market due to unforeseen circumstances.

3) The company can implement this strategy and study the existing products in the market and try to come up with an improvised version of the same and try to gain dominance in the market

4) A well implemented strategy will lead to a augmented brand recognition for the company.

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