"Strategy (from Greek στρατηγία stratēgia, 'art of troop leader; office of general, command, generalship') is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty."
Explaining the meaning of strategy, its importance, and development.
Competitive Advantage: A strategic advantage that enables an organization to outperform its competitors.
Vision and Mission: The desired future state and the fundamental purpose of an organization.
SWOT Analysis: An analysis of an organization's strengths, weaknesses, opportunities, and threats.
Strategic Planning: The process of defining an organization's direction and making decisions on allocating its resources.
Organizational Culture: The shared values, beliefs, and assumptions that govern an organization's behavior.
Resource Allocation: The process of deciding where an organization's resources should be invested.
Strategic Leadership: The ability to influence others in a way that helps achieve an organization's strategic goals.
Corporate Social Responsibility: The concept of businesses contributing to society beyond their financial objectives.
Risk Management: The process of identifying, assessing, and mitigating risks that could impact an organization's strategy.
Strategic Implementation: The process of executing an organization's strategy.
Business Model: The way an organization creates and delivers value to its customers.
Innovation: The introduction of new ideas, products, services, or processes that drive an organization's growth.
Market Analysis: An assessment of the market and its trends, customers, and competition.
Value Chain Analysis: A tool used to analyze an organization's value-creating activities.
Performance Metrics: Measurements used to track and evaluate an organization's performance.
Portfolio Management: The process of managing an organization's portfolio of products or projects.
Change Management: The process of managing and adapting to changes in an organization and its environment.
Strategic Alliances: The formation of partnerships between organizations to achieve common strategic goals.
Mergers and Acquisitions: The process of combining two or more organizations to achieve strategic objectives.
Globalization: The process of expanding an organization's operations and influence globally.
Traditional definition: This definition of strategy emphasizes the importance of long-term planning and focuses on achieving competitive advantage through superior performance.
Resource-based definition: This definition of strategy suggests that organizations can achieve a sustainable competitive advantage by leveraging their unique resources and capabilities.
Dynamic capabilities definition: This definition of strategy highlights the importance of an organization's ability to adapt and respond to changing market conditions.
Contingency theory definition: This definition of strategy suggests that different situations require different strategies and that there is no one-size-fits-all approach to strategic planning.
Market-focused definition: This definition of strategy emphasizes the importance of understanding customer needs and market trends to develop effective strategies.
Learning-oriented definition: This definition of strategy recognizes the importance of continuous learning and improvement in developing successful strategies.
Cultural definition: This definition of strategy suggests that strategic planning and decision-making are influenced by an organization's culture and values.
Political definition: This definition of strategy recognizes the role of power and influence in strategic decision-making within organizations.
Collaborative definition: This definition of strategy emphasizes the importance of collaboration and cooperation between different stakeholders in developing successful strategies.
Entrepreneurial definition: This definition of strategy emphasizes the importance of taking calculated risks and being innovative in developing strategies for growth and success.
"In the sense of the 'art of the general,' which included several subsets of skills including military tactics, siegecraft, logistics, etc."
"The term came into use in the 6th century C.E. in Eastern Roman terminology."
"The term was translated into Western vernacular languages only in the 18th century."
"The word 'strategy' came to denote 'a comprehensive way to try to pursue political ends, including the threat or actual use of force, in a dialectic of wills' in a military conflict, in which both adversaries interact."
"Strategy is important because the resources available to achieve goals are usually limited."
"Strategy generally involves setting goals and priorities, determining actions to achieve the goals, and mobilizing resources to execute the actions."
"A strategy describes how the ends (goals) will be achieved by the means (resources)."
"Strategy can be intended or can emerge as a pattern of activity as the organization adapts to its environment or competes."
"It involves activities such as strategic planning and strategic thinking."
"Henry Mintzberg from McGill University defined strategy as a pattern in a stream of decisions to contrast with a view of strategy as planning."
"Henrik von Scheel defines the essence of strategy as the activities to deliver a unique mix of value – choosing to perform activities differently or to perform different activities than rivals."
"Max McKeown argues that 'strategy is about shaping the future' and is the human attempt to get to 'desirable ends with available means'."
"Vladimir Kvint defines strategy as 'a system of finding, formulating, and developing a doctrine that will ensure long-term success if followed faithfully'."
"Complexity theorists define strategy as the unfolding of the internal and external aspects of the organization that results in actions in a socio-economic context."