Characteristics of strategy - strategic management - Manu Melwin Joy

Characteristics of strategyStrategic Management

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Manu Melwin JoyAssistant Professor

Ilahia School of Management Studies

Kerala, India.Phone – 9744551114

Mail – [email protected]

Characteristics of strategy

• The decision is concerned

with or effects the long

term direction of an

organization.

• Strategic decisions are

normally about trying to

achieve some advantage

for the organization.

Characteristics of strategy• Decision is likely to be

concerned about the scope of an organization’s activities.

• Decisions can be seen as matching of the activities of an organization to the environment in which it operates.

Characteristics of strategy

• Decisions have major

financial or other

resource implications.

• Decision will have a major

impact outside the

organization.

Characteristics of strategy

• Strategic decisions are

likely to affect operations

decisions.

• Decisions entail significant

risks to the business.

Definition of strategy

• According to Norman

(1993), “Strategy is the art

of creating value”.

Definition of strategy

• According to Porter

(1996), “Strategy is about

being different. It means

deliberately choosing a

different set of activities

to deliver a unique mix of

value”.