Question

Tina is the inventor of a personal fitness tracking device, and she is in the process of hiring employees after receiving investment funding. When considering how to structure her company, she should?

Answer 1

She should first establish a strategy and let that be her guide.

Strategy is a widespread plan to achieve one or more lengthy-term or normal goals under conditions of uncertainty.

The strategy is an action that managers take to reap one or greater of the organization's goals. strategy can also be described as “A fashionable path set for the company and its diverse components to acquire a preferred country within the destiny. approach results from the distinctive strategic planning system”.

A tactic refers to the precise moves taken to attain the set goals in line with the method. for instance, organization A's strategy is probably to end up the most inexpensive company in the smartphone market. Their managers then need to negotiate with suppliers to reduce the costs of the electronic additives utilized in production.

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