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A strategy is a plan of action designed to achieve a major or overall aim.
According to Porter (1996), "strategy is the creation of a unique and valuable position involving a different set of sctivities, requiring tradeoffs in competing, to choose what not to do and involving creating 'fit' among the company's activities."
According to Mintzberg (1998), strategy is a plan, a pattern identified from actions, a position of products in particular markets, a perspective and way of doing things, and a strategy may be a ploy, a specific "maneuver" intended to outwit an opponent or competitor.
An intended strategy is planned by decision makers and an emergent strategy is a product of any planned and unplanned actions.
Strategy refers to the large-scale, future-oriented plans for interacting with the competitive environment to achieve company objectives.
The word "strategy" comes from the Greek strategos, referring to a military general and combining stratos (the army) and ago (to lead). The primary tasks of strategic management are to understand the environment, define organizational goals, identify options, make and implement decisions, and evaluate actual performance. Thus, strategic planning aims to exploit the new and different opportunities of tomorrow, in contrast to long-range planning, which tries to optimize for tomorrow the trends of today (Drucker 1980, p. 61).
Johnson and Scholes in Exploring Corporate Strategy (2006) define strategy as: "... the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations".
from Mintzberg, Henry, Bruce W. Ahlstrand and Joseph Lampel, Strategy Safari: A Guided Tour Through the Wilds of Strategic Management, Simon & Schuster, 1998.
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