PlanningSkills.COM Tuesday, August 22, 2017 PDT

Home Page
DSSResources.COM
PowerEnterprises.Net

Content Channels:

Ask Dan!
Glossary
Library
Planning Tips
Slides
Web Links

Site Information

About Us
Disclaimer
Privacy Statement
Welcome


Strategy

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.

Drucker, Peter. 1980. Managing in Turbulent Times. New York: Harper & Row.

Porter, M., "What is Strategy?" Harvard Business Review, November-December 1996.




Home |  About Us |  What's New
Copyright © 2004-15 by D. J. Power (see his home page). PlanningSkills.COMsm is maintained by Alexander P. and Daniel J. Power. Please contact them at djpower1950@gmail.com with questions. See disclaimer and privacy statement. This page was last modified on December 8, 2015.
Google
 
Web planningskills.com