Strategy determines the fundamental course of an institution – specifically within the framework of the master controls of the corporate policy. Strategy determines how an institution will fulfil its business mission and how it will respond to future challenges in an ever-changing environment. This is determined through the setting of strategic development directions. Key influencing factors in the development of a strategy are the findings of the strategy research program PIMS. The basis of a strategy should be the profit potentials of an institution. But it is necessary to differentiate between the strategy of an entire institution, the strategies of the individual business units and the functional strategies of an institution.

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