Business strategy refers to the long-term plan of action that a company formulates to achieve specific goals and objectives in a competitive environment. It encompasses the decisions and actions taken by the organization to leverage its strengths, address weaknesses, respond to market opportunities, and mitigate threats. A business strategy outlines how a company will compete in the market, identify its target customers, differentiate its products or services, allocate resources effectively, and ultimately create value for shareholders. Business strategies can vary from cost leadership, differentiation, focus strategies, and innovation strategies, depending on the nature of the business and the industry it operates within. The effectiveness of a business strategy is often assessed based on the company’s performance indicators, such as market share, profitability, and growth over time.
Henkel recorded significant profit gains, surpassing expectations and increasing its dividend payout to €2.04 per preferred share in 2024, signaling robust financial health. The company aims for organic sales growth…