What is strategy ? Strategy is the direction and scope of an organisation over the long term : ideally, which matches its resources to its changing environment, and in particular its markets, customers or clients so as to meet stakeholder expectations. “The clear cut choices about how to compete” “ The direction or path chosen to pursue the goal”.
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What is strategy ? Strategy is the direction and scope of
an organisation over the long term : ideally, which matches its resources to its changing environment, and in particular its markets, customers or clients so as to meet stakeholder expectations.
“The clear cut choices about how to compete”
“ The direction or path chosen to
pursue the goal”.
What is the difference between Strategy and Tactics.
Strategy is the path or choice made to pursue the goal.
Tactic is the rate or speed at which you pursue the strategy.
Evolution of the concept of Evolution of the concept of strategic Managementstrategic Management
The word Strategy comes from the Greek work- Strategia, which means a General or Military Commander( the art of the general)
Stratos- cloudsArgos- armyThus literally it means, “ the view of
the army from the clouds”War and Strategy are inseparable.
Strategic Management can be defined as the set of decisions and actions resulting in formulation and implementation of strategies designed to achieve both the short and long term objectives of an organization.
The strategist’s work is to challenge the existing set up with a single question -Why?
Work done in the field of Work done in the field of StrategyStrategy
The Gurus: Igor Ansoff- pioneered the concept
of strategyHenry MintzbergPeter DruckerMichael Porter All of them of them enriched the
concept of strategic management with their original insights.