• “Reliance Group”: Thinking big strategy

They think big and do things big. They own the largest refinery in the world and they are one of the largest conglomerates in the world; but they were not as big as this many years ago. To further proof their belief in doing things big, “Reliance Group” invested $5 billion in a single swoop to create a network of retail stores. The ultimate lesson from this successful business model is this; start small but think big. [4]

"I like thinking big. If you’re going to be thinking anything, you might as well think big" – Donald Trump.

• “Wal-Mart”: Unique Pricing Strategy

“Always low price” – Wal-Mart slogan.

“Wal-Mart” in the face of stiff competition came up with a winning strategy that made them industry leaders. They decided to use strategic pricing as a weapon to overcome their competitors and that pricing strategy has put them in the leadership position. Today, as at the time of this writing; “Wal-Mart” is the most capitalized company in the world and number one on the list of Fortune’s 500 companies. [5]

"There is one rule for the industrialist and that is: make the best quality goods possible at the lowest price possible, paying the highest wage possible" – Henry Ford said.

• “Coca Cola”: Strong Brand Strategy

Sometime ago “Coca Cola”'s fixed assets were estimated at $8 billion but its brand name "Coca Cola" was estimated to be worth over $80 billion. The reason is because “Coca Cola” has worked diligently over the years to strengthen their brand. The “Coca Cola” brand is the most popular all over the world; thanks to the strategic brand management team of the company. If using your brand image to gain an edge over competitors looks like something you can diligently pursue, then Coca Cola's business strategy model is definitely worth emulating. [5]

"If you are not a brand, you are a commodity" – Robert Kiyosaki said.

There are strategies which bring companies to success. One cannot deny that there are splendid samples for young businessmen, and that may serve as models for organizations. However, one should not forget that strategy forming is individual process and it depends on both specific properties and features of a company and external economic, politic and social situation.

The conclusion

Thus, a definition of a business strategy was studied in this work. A business strategy is not a simple plan; it is something like a conception of company’s development. Basic elements of a successful strategy were presented in this essay. It is important to understand that there are universal elements, but every company has other aspects owing to its particularity. Anyway, forming of a business strategy consists of two stages: the strategic planning process and its writing. Every organization passes these processes.

Furthermore, basic types of a business strategy were considered in this paper. In the same time, every strategy is individual, but companies may study experiences of world successful organizations which are present in this essay.

The main findings of the study consist in importance and individuality of a business strategy. Forming of a successful strategy is a long, thought out process; it demand both a full analysis of company’s inner structure and characteristics and external markets, politic, economic, social situation.

The bibliography

1. Consoli A. The real definition of a business strategy/ A. Consoli// Ezine articles. – 2007. - № 9

2. Elbridge B. Four ways to develop a successful business strategy/ B. Elbridge// Mind masters. – 2011. - № 11

3. Finklestein R. What successful businesses have in common/ R. Finklestein// Enterpreneur. – 2007.- № 2

4. Gopinathan T. How to develop business strategy for success/ T. Gopinathan. – 2009. - № 1

5. Martins A. T. Seven successful business strategy models you must emulate// Startups advice. - 2010. - № 3

6. Corporate strategy/ Business dictionary. – Режим доступа: http://www.businessdictionary.com/definition/corporate-strategy.html

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