This term includes the different actions a firm takes to achieve its goals, mainly to create corporate value. It is a continuous process aimed at maintaining a competitive advantage. To have an effective strategy, a company must have a long-term vision and be aware of its weaknesses (= « faiblesses ») and strengths (= « points forts »). To implement (= « mettre en place ») this strategy it is essential to involve everyone by creating a team spirit within the company but also to communicate about it with all stakeholders.
Analysing business performance
To understand and assess (= « évaluer ») a company, all stakeholders need to look at its financial position. Companies publish annual reports, namely balance sheets (« bilans comptables »), and cash flow (« flux de trésorerie ») statements.
