The twenty fifth National Business Conference sponsored by the Harvard BusinessSchool Association in 1955 made one of the earliest attempts to discuss the concept of
strategy. In 1965, Ansoff published a book “Corporate Strategy” which was based on
his experiences at the Lock heed Aircraft corporation. Chandler’s historical study of
the development of some of the American enterprises proposed strategy as one of themost important variables in the study of organizations. From the literature on strategicmanagement, it is evident that strategic planning refers to the management processesin organizations through which the future impact of change is determined and currentdecisions are made to reach a designed future.2.2 CONCEPT AND NATURE OF CORPORATESTRATEGY
The word strategy is derived from the Greek word “strategtia” which was used first
around 400 B.C. This connotes the art and science of directing military forces. In1819Introduction to CorporateStrategybusiness parlance, there is no definite meaning assigned to strategy. A few definitionsstated below may clarify the concept of corporate strategy:
KENNETH ANDREWS(1955), “The pattern of objectives, purpose, goals and the
major policies and plans for achieving these goals stated in such a way so as to define
what business the company is in or is to be and the kind of company it is or is to be”
This definition refers to the business definition.
IGOR ANSOFF(1965) explained the concept of strategy as “the common thread
among the organizations, activities and product markets, that defines the essentialnature of business that the organization was or pla
nned to be in future”.