Businesses need strategy in order to be prosperous rather than survive.
This is not to suggest that a business cannot survive without any strategy but that is about all they can do. They will neither be prosperous on the long run nor excel and without doubt, they will always perform poorly and sub optimally.
Strategy is a framework within which choices about the nature, methodology and direction of an organization are made.
Without a clear strategy effectively communicated and orchestrated to the subordinates and staffs, the possibilities of superior and optimum performances are slim.
Setting and implementation of strategies requires hard thinking and considerable efforts by the organization leadership. In addition, it requires innovative thinking skills by all involved. Consequently, strategy planning and operational activities must be synchronized and integrated.