Strategy assessment is an attempt to look beyond the obvious facts regarding the short-term health of a company and instead evaluate those more fundamental factors and trends that govern success in the field of chosen activity. Strategy can also be defined as a set of objectives, policies and plans that, taken together, define the scope of the enterprise and its approach to survival and success. Alternatively, we might say that a firm's particular policies, plans, and objectives express its strategy for coping with a complex competitive environment. A good business strategy can be broadly classified into functions such as coherence, consonance, advantage and feasibility. A strategy that fails to meet one or more of these criteria is highly suspect. It fails to perform at least one of the key functions necessary for the survival of the business. Inconsistency in business is not simply a flaw in logic. A key function of strategy is to provide coherence to organizational action. A clear and explicit concept of strategy can foster a climate of tacit coordination that is more efficient than most administrative mechanisms. Organizational conflicts and interdepartmental squabbles are often symptoms of managerial disorder, but they can also indicate problems of strategic inconsistency. It is no exaggeration to say that competitive strategy is the art of creating or exploiting those advantages that are most significant, long-lasting, most difficult to obtain. duplicate. Competitive strategy, unlike generic strategy, focuses on differences between companies rather than their common missions. Competitive advantages can normally be traced back to one of three roots: (1) superior ability, (2) superior resources, and (3) superior position. Positional advantage is of two types: first-mover advantages and reinforcements. First movers can also gain advantages in building distribution channels, trying out specialty suppliers, or attracting customer attention. Reinforcers are policies and practices that act to strengthen or preserve a strong market position and are easier to carry out because of that position. Other location-based advantages include ownership of special sources of raw materials or advantageous long-term supply contracts; be geographically located close to key customers in a business that involves significant fixed investments and high transportation costs; be a leader in a service field that allows or requires building a unique experience base in serving customers; be a full-line manufacturer in a market with strong trade-up phenomena; have an extensive reputation for providing a needed product or service feature in a reliable and reliable manner.