Strategy: A View from AboveWhat is strategy?Understanding how a strategy is created is very important. It is also very important to understand that there is a connection between good strategic planning and long-term performance. Successful companies appear to have a better understanding of customers' wants and needs and how they can create value. It is difficult to define a "strategy" in one sentence, but it could be defined as "positioning an organization for competitive advantage". Its main objective is to create value for stakeholders by providing value to the customer. (p. 2) Strategies always change because the context in which the strategy is developed always changes. For example, the evolution over the last fifty years has moved from an industrial economics perspective to a resource-based perspective to a human and intellectual capital perspective. They can certainly change strategies for entrepreneurs. New ideas and business concepts arise every day. Many different efforts are made within a company to improve competitiveness. Superior and sustainable performance can only be achieved if a company manages to reserve the differences between itself and its competitors. Strategic thinking focuses on taking different approaches to deliver customer value and provide a foundation for competitive advantage. A company should choose which activities to carry out and how to carry them out. A good strategy focuses on creating value by satisfying customers' needs and wants better than any other rival. If a company has a superior strategy, it can usually deliver value to its customers better than its competitors. What is valuable today may not be valuable tomorrow. As ideas and needs change day by day, it is important… the medium of paper… inspires them to do their best. (p. 10) The Balanced Scorecard (BSC) The Balanced Scorecard (BSC) is a strategic performance tool. It can be used by managers to track and monitor activities and their effects. The four boxes represent the four components of a Balanced Scorecard that are linked by the vision and strategy of the business organization. The four perspectives are interrelated and cannot function independently. Financial: the costs involved, in terms of the rate of return on capital employed (ROI) and the organisation's operating income. Business process: consists of measures such as costs and quality related to the business process. Customer: measures the level of customer satisfaction, customer loyalty and market share held. Learning and growth: consists of measures such as employee satisfaction and loyalty and management knowledge.