Long-term nature

Release time:

2021-11-25

Author:

Kingdom’s business strategy both reflects the company’s need for long-term development and constitutes a comprehensive plan for how it will survive and grow over an extended period—five years or more. Any enduring, fundamental objectives and corresponding action plans designed to adapt to changing environmental conditions constitute a strategy, whereas approaches that flexibly respond to short-term shifts and address specific, localized issues are tactical in nature.

Kingdom’s business strategy both reflects the company’s aspirations for long-term development and constitutes a comprehensive plan for how it will survive and grow over an extended future period—five years or more. Although its formulation begins with an assessment of the current external environment and internal conditions, and while it guides and constrains the company’s present production and operational activities, all of this is ultimately geared toward longer-term growth and serves as the foundation for that growth. Any enduring, fundamental objectives and corresponding action plans established to adapt to changes in environmental conditions are considered strategy, whereas methods that flexibly respond to short-term shifts and address specific, localized issues are classified as tactics.

Keywords:

Programmatic

Globality