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Strategy Session 1

Strategy Session 1

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Published by Nitin Patel

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Published by: Nitin Patel on Sep 10, 2008
Copyright:Attribution Non-commercial

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11/08/2012

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Strategy and StrategyManagement Process
Chapter 1
 
 
Strategy
Definition: Strategy is a long term plan of action designed to achieve a particular goal,most often "winning."
Strategy is not a detailed plan or program of instructions. It is a unifying theme that givescoherence and direction to the actions anddecisions of an individual or an organisation.
Strategy is differentiated from tactics or immediate actions with resources at hand byits nature of being extensively premeditated,and often practically rehearsed.
 
 
Strategic ManagementProcess
Definition:
Strategic Management Process
is a sequential set of analyses and choices that can increase the likelihoodthat a firm will choose a good strategy, whichgenerates a competitive advantage.
It consists of the following:
Mission
Objectives
External-Internal Analysis
Strategic Choice
Strategic Implementation

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