Strategy was originally a military term, defined in the Oxford English Dictionary as: ‘The art of a commander-in-chief; the art of projecting and directing the larger military movements and operations of a campaign.’ Commanders-in-chief and military campaigns do not exist in business, the public sector or voluntary organizations, but at least this definition conveys the messages that strategy is the ultimate responsibility of the head of the organization, is an art and is concerned with projecting and directing large movements, (Armstrong, 2008)
Steiss (2003) witness that the term strategy has being derived from the Greek “strategos”, meaning “general.” originated in a military, where in the military; strategy involves the planning and directing of battles or campaigns on a broad scale, that is, the responsibility of the general. Even Hill and Jones (2008) declare that strategic
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In effect, strategy is the pattern of actions managers employ to achieve strategic and financial performance targets. They suggest that the firm's mission and objectives combine to define "What is a business and what will it be?" and "what to do now" to achieve organization's goals. Therefore a strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage. It is also an overriding purpose that can align and mobilize all parts of the organization.
All organizations engage in the strategic management process either formally or informally knowingly or unknowingly. Strategic management is equally applicable to public, private, not-for-profit, and religious organizations (Thomson, 2014). Strategic management as applied in the private sector is an art and science of formulating, implementing, and evaluating cross functional decisions that enable an organization to achieve its objectives, (David,
Strategy refers to the plan or action taken to achieve organizational goals. When Ellen took over Tufts-NEMC, the hospital was struggling with payroll and scale. Ellen had to focus on meeting payroll, a short-term strategy, and could not focus entirely on the longer term. She took some immediate measures to help cut cost
Strategy is defined as a plan of action designed to achieve a major objective. This is the overall operations to achieve a goal. During war the military has tactics which come from the art of planning. A strategy is the guide for the individual, business, or organization to achieve the objective at hand. An individual should map out and meditate in advance to reduce the chance of failing. So, for FedEx, it could be to map out routes to make sure delivery personal does not overlap each other. A strategy is a compass that guides a person along to make sure they achieve their objective.
A strategy is the actual thought process involved to plan change, a course of action, or organization. Tactics are the specific actions required to bring about this plan developed during the strategic planning process.
According to Meyer, (2010), strategy is the action that company can take to achieve its desired goals. When it comes to a company, thinking can be said to be either long-term or short-term. When translated into action, it is what is called operations or projects. However there are differences between operations and
After reading this article, I can say that a strategy is a summary of words that empowers and energizes employees to enhance their long-term performance within the organization. This is the measure undertaken in order to achieve a certain objective and is usually included in a plan for the company. David J. Collis and Michael G. have suggested that a strategy statement describes the action of the general plan and outlines specific activities that should be taken by the company. It does not reflect the impact of the plan for public relations; they are objectives (Collis & Rukstad, 2008). The specific activities that are put in place to ensure that some objectives achieved for a positive impact are also not objectives but just tactics. Strategies combine the aspects of both tactics and objectives. The strategy statement specifies key functions; the tactics can be said to be a clearer version of the strategy, several key taken, but abstract, strategic elements and transforming them into concrete things (Collis & Rukstad, 2008).
‘Strategy is the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through it’
Strategy is about which product or services should be produced and offered to which markets and which the customer needs and wants are met whilst achieving the objectives of the organization while making a profit – how each business aim to achieve its mission within its selected area of activity.
Alfred Chandler(1963) defines strategy as ‘ the determination of the long-run goals and objectives of an enterprise and the adoption of courses of action of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals’. And Michael porter(1996) sees it as ‘Competitive strategy is about being different. It means deliberately choosing different set of activities to deliver a unique mix of value’.
“Strategy can be thought of as a long term plan of action or execution designed to achieve particular objectives, such as achieving competitive advantage for an organisation. It reflects the values, expectations and goals of those who are in power within the organisation.” (RDI course material-Strategic Management module; Unit 1-Nature and scope of strategic management; Lesson 1-Nature)
The ability to sustain the business in the market is definitely a tough job. That explains why behind every company there is a strategist to come up with innovative ideas to achieve specific goals. The need for a structural organization to grow, a plan such as a unique strategy is needed. A strategy is a unique plan, a long term plan for a structural organization to achieve a targeted goal. It involves unique activities that enhance the organization to outshine from the competitors and still preserve it. There are different strategies to take into consideration but the definition of strategy that this essay will outline here focus on three questions below:
Concept of strategy was first introduced in fifties in organisational literature by faculty of Harvard Business School (Snow & Hambrick, 1980). According to the definition given in Oxford dictionary, “Organizational Strategy are the plans of a large organization about development and dealing with changing markets. These plans must originate from company’s main objective which represents key feature about business of the company. For a strategy to work, it should be divided into smaller achievable targets (Johnson, 2016). One more definition of describes organizational strategy as an expression of how an organization needs to evolve over time to meet its objectives along with a
The term strategy is originated from the Greek word called “strategia” which means “generalship.” But, the concept of strategy is not originated with the Greeks. Strategy is the overall plan for deploying resources to establish a favorable position; (Grant, 2010).
Strategy: Johnson et al (2005, p9) argues, "Strategy is the direction and scope of an organisation over the long term, which achieves an advantage in a changing environment through its configuration or resources and competences with the aim of fulfilling stakeholder expectations."
The concept of strategy is as old as the history of wars itself. “The Art of War” the first comprehensive book on strategy was written about 500 BC. The roots of strategy are in competition. The word “strategic” derives from the Greek word “strategos,” which means “a general set of manoeuvres carried out to overcome an enemy during combat” (Nutt & Backoff 1992, p. 56). However, corporate strategy gained the recognition of being a separate field of study around fifty years ago (Kay 2003). The most famous work on for-profit strategy is Porter’s “Competitive Strategy”. He defines strategy as: “developing a competitive strategy is developing a broad formula for how a business is going to compete, what its goals
A good strategy drives business. In some previous definition, the role of a strategist has been relevant to outsourced specialists and analytic number crunchers. Hence, the main responsibility of a leader is more likely to be a theory and principle, wh0ich is devised by MBAs and consultants.