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Ten things you need to know about strategy

Ian Marcousé provides a framework of ten concepts for your revision

Strategy is about thinking ahead, which can mean thinking beyond current, profitable products to the ones of the future. Brave bosses are willing to sacrifice current profits for future, profitable growth.

Example: for decades, Marks and Spencer has needed to decide who it is targeting, which would probably involve scrapping products aimed at the wider public (see p. 7).

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