Planning And Execution Of A Strategy Essay

1337 WordsAug 17, 20146 Pages
Strategy and Challenges Introduction In modern days we often hear about all different types of strategies, such as military strategy, business strategy, marketing strategy, or government strategy etc. It is widely known that strategy is vitally important to achieve the identified goals for business organizations. This essay briefly discusses the definition of “strategy” and the challenges that organizations may have during initiation, planning and execution of a strategy. Definition of strategy According to oxford dictionary (oxford dictionary, 2014), Strategy is a plan of action designed to achieve a long-term or overall aim. It generally involves the initiation of goals, planning of actions to achieve the goals and execution of actions utilizing available resources. Historically, strategy is widely used in military context and remained prominent. ‘Strategy is the greatest work of the organization. In situations of life or death, it is the Tao of survival or extinction. Its study cannot be neglected.’(Sun Tzu, BC 500). Morphologically, the term strategy comes from the Greek words ‘stratçgos’ which derives from two words ‘stratos’ and ‘ago’. ‘Stratos’ means army and ‘ago’ which is the ancient Greek for leading/ guiding/ moving. Within this context the word ‘stratçgos’ means ‘to plan the destruction of one’s enemies through effective use of resources’ (Christopher Jahns, 2008). So what is strategy in modern days? As Johnson and Scholes said "Strategy is the direction and
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