Everything starts with an Idea. We can say idea is the seed. But is it idea that only prevails? No..!

There is something or we should say somebody who is greater than any idea. He/she is the viewer of the idea. He/she is the leader who visualizes, conceptualizes and strives to realize the idea. Business is no different in that sense. Big corporations, large or small companies all starts with an idea that is natured under the care of a leader. But we observe that some succeeds, some fails, some become best, some manage anyhow and some are simply swallowed. Why is this difference? The difference is in the root that is a basic quality of a leader – The quality is how visionary is the leader, his/her commitment, his/her innovative approach, learning capability and resources for information. A leader signs the deal to make a difference but it’s a visionary leader delivers the real difference in business excellence. Now comes strategy. What is strategy? Strategy is a high level plan to achieve one or more goals under conditions of uncertainty. Yes under conditions of uncertainty! In 1969, Peter Drucker coined the phrase Age of Discontinuity to describe the way change disrupts lives. In an age of continuity attempts to predict the future by extrapolating from the past can be accurate. But according to Drucker, we are now in an age of discontinuity and extrapolating is ineffective. He identifies four sources of discontinuity: new technologies, globalization, cultural pluralism and knowledge capital. Strategy is important because the resources available to achieve these goals are usually limited. Strategy is also about attaining and maintaining a position of advantage over adversaries through the successive exploitation of known or emergent possibilities rather than committing to any specific fixed plan designed at the outset. In present business scenario management gurus have identified strategy management at four levels - corporate, business, functional and operational
levels.

Corporate strategy answers the questions, "which businesses should we be in?" and "how does being in these businesses create synergy and/or add to the competitive advantage of the corporation as a whole?" Business strategy is the corporate strategy of single firm or a strategic business unit (SBU) in a diversified corporation. Functional strategies are specific to a functional area, such as marketing, product development, human resources, finance, legal, supply-chain and information technology. The emphasis is on short and medium term plans. Functional strategies are derived from and must comply with broader corporate strategies. Defining an operational strategy was encouraged by Peter Drucker. It deals with operational activities such as scheduling criteria. Mintzberg concludes that there are five types of strategies:

distributer all are partners. Thus. A partnership is an arrangement in which parties agree to cooperate to advance their mutual interests. a systems perspective means managing organization as a whole to achieve success. It means linking these strategies with organization’s work systems and key processes and aligning resources to improve overall performance and organizational focus on customers and stakeholders. flexibility. guide. and organizational knowledge to build key strategies. core competencies. maintains the system. In our model one can see that it is customer centric. Business Process Management uses a systematic approach in an attempt to continuously improve business effectiveness and efficiency while striving for innovation. Although as per their interest and position nature of their mutual partnership relations change. course of action – intention rather than actual Strategy as ploy – a maneuver intended to outwit a competitor Strategy as pattern – a consistent pattern of past behaviour – realized rather than intended Strategy as position – locating of brands. reinvent the system to achieve the goal. or companies within the conceptual framework of consumers or other stakeholders – strategy determined primarily by factors outside the firm Strategy as perspective – strategy determined primarily by a master strategist In short we can say strategy creates the system. and manage performance based on stakeholders’ goal. A systems perspective also includes using business measures. As it can be client-server type or it can be peer-peer type. but also it can be observed that it originates from the visionary leader that means that interests of all of business stakeholders – external as well as internal are taken care. respond to. Process is the path which starts at one defined point and ends at desired point. indicators.     Strategy as plan – a direction. consultant. supplier. products. In the complete chain of business from leader to worker. It means that leaders monitor. . To effectively execute the business processes with its increasing complexity partnership is the only tool to deal it and make it simple and controllable. A systems perspective includes organization’s leaders’ focus on strategic directions and on customers. and integration with technology.

and pursue all activities under that mission. as well as possessing fewer resources. the actual modes of progress have to be determined. developing policies and plans. often in terms of projects and programs. An SME (Small and Medium Enterprise) may employ an entrepreneurial approach. Recent studies and leading management theorists have advocated that strategy needs to start with stakeholders expectations and use a modified balanced scorecard which includes all stakeholders. No single strategic managerial method dominates. Prescriptive schools are "one size fits all" approaches that designate "best practice" while descriptive schools describe how strategy is implemented in specific contexts. Mintzberg stated there are prescriptive (what should be) and descriptive (what is) approaches.Strategy is a high level plan to achieve one or more goals under conditions of uncertainty. in addition to areas in which expansion may be unwise. Strategy is important because the resources available to achieve these goals are usually limited. scope of operations. projects and programs. once identified. Such an occurrence will also uncover areas to capitalize on.   Strategy evaluation and choice An environmental scan will highlight all pertinent aspects that affect an organization. and the proclivity to change of its business environment. An SME's CEO (or general top management) may simply outline a mission.These pertain to: . and need to encompass stakeholder views and requirements. and then allocating resources to implement the policies and plans. This is due to its comparatively smaller size and scope of operations. which are designed to achieve these objectives. whether external or sector/industry-based. feasibility and acceptability of an option. vision and objectives. have to be vetted and screened by an organization. Strategic management can depend upon the size of an organization. These options. involving resources and performance in internal and external environments. In addition to ascertaining the suitability. It entails specifying the organization's mission. Strategy is also about attaining and maintaining a position of advantage over adversaries through the successive exploitation of known or emergent possibilities rather than committing to any specific fixed plan designed at the outset. due to its size. These points are highlighted below:   A global/transnational organization may employ a more structured strategic management model. and remains a subjective and contextdependent process. Strategic management analyzes the major initiatives taken by a company's top management on behalf of owners.

Return deals with stakeholder benefits. threat (SWOT) analysis. Specific approaches may include:    Differentiation. Employees are particularly likely to have concerns about non-financial issues such as working conditions and outsourcing. Resources include capital.The basis of competition Companies derive competitive advantage from how an organization produces its products. time. or other aspects of the business. etc.Evaluation tools include:    cash flow analysis and forecasting break-even analysis resource deployment analysis This has to be in-line with demand forecasting. Risk deals with the probability and consequences of failure. in which products compete by offering a unique combination of features.Evaluation tools include:   what-if analysis stakeholder mapping . how it acts within a market relative to its competitors. market access and expertise. employees and customers. opportunity. Cost. people.) with the expected financial and non-financial outcomes. in which products are tailored for the unique needs of a specific market. Suitability Suitability deals with the overall rationale of the strategy. Feasibility Feasibility is concerned with whether the organization has the resources required to implement the strategy. instead of trying to serve all consumers. in which products compete to offer an acceptable list of features at the lowest possible cost.    Does the strategy address the mission? Does it reflect the organization's capabilities? Does it make economic sense? Evaluation tools include strength. weakness. Segmentation. Acceptability Acceptability is concerned with the expectations of the identified stakeholders (shareholders.

human resources. "which businesses should we be in?" and "how does being in these businesses create synergy and/or add to the competitive advantage of the corporation as a whole?" Business strategy is the corporate strategy of single firm or a strategic business unit (SBU) in a diversified corporation. The 1950s and 1960s was described as the "sales era". If you produced a product that worked well and was durable. Defining an operational strategy was encouraged by Peter Drucker. immediate retirement or harvesting without further investment. They claimed that instead of producing products then . The strategy hierarchy Most corporations have multiple levels of management. functional and operational levels. divestment to another firm. those that don't must also be addressed. Strategic management can occur at corporate. Functional strategies are specific to a functional area. Its guiding philosophy of business is today called the "sales orientation". It deals with operational activities such as scheduling criteria. finance. supply-chain and information technology. such as marketing. Functional strategies are derived from and must comply with broader corporate strategies.These points range from:    Alliances with other firms to fill capability/technology/legal gaps Investment in internal development Mergers/acquisitions of products or firms to reduce time to market Countries such as India and China require market entrants to operate via partnerships with local firms. it was assumed you would have no difficulty profiting. Move from sales focus to marketing The 1970s also saw the rise of the marketing oriented firm. Corporate strategy answers the questions. From the beginnings of capitalism it was assumed that the key requirement of business success was a product of high technical quality. The emphasis is on short and medium term plans. Additionally. either via consolidation with another product/service. business. product development. the exact means of implementing a strategy needs to be considered.[who?] In the early 1970s Theodore Levitt and others at Harvard argued that the sales orientation had things backward. This was called the production orientation. legal.Implementation While products and services that fit the strategy may receive additional investment.

including strategic thinking and planning. 2) enterprises are not equipped to cope with this complexity. He identifies four sources of discontinuity: new technologies. businesses should start with the customer. customer focus.trying to sell them to the customer. products. The customer became the driving force behind all strategic business decisions. course of action – intention rather than actual Strategy as ploy – a maneuver intended to outwit a competitor Strategy as pattern – a consistent pattern of past behaviour – realized rather than intended Strategy as position – locating of brands. Strategic change In 1969. or companies within the conceptual framework of consumers or other stakeholders – strategy determined primarily by factors outside the firm Strategy as perspective – strategy determined primarily by a master strategist In 2010. This marketing concept. Peter Drucker coined the phrase Age of Discontinuity to describe the way change disrupts lives. Mintzberg concludes that there are five types of strategies:      Strategy as plan – a direction. guide. has been reformulated and repackaged under names including market orientation. globalization. . cultural pluralism and knowledge capital. In an age of continuity attempts to predict the future by extrapolating from the past can be accurate. in the decades since its introduction. customer-driven and market focus. IBM released a study summarizing three conclusions of 1500 CEOs around the world: 1) complexity is escalating. and 3) creativity is now the single most important leadership competency. But according to Drucker. customer intimacy. IBM said that it is needed in all aspects of leadership. customer orientation. and then produce it for them. find out what they wanted. we are now in an age of discontinuity and extrapolating is ineffective.

.Partnership A partnership is an arrangement in which parties agree to cooperate to advance their mutual interests.

a systems perspective means managing organization as a whole to achieve success. core competencies.Systems Perspective A systems perspective includes organization’s leaders’ focus on strategic directions and on customers. . A systems perspective also includes using business measures. and organizational knowledge to build key strategies. It means that leaders monitor. indicators. and manage performance based on stakeholders’ goal. respond to. Thus. It means linking these strategies with organization’s work systems and key processes and aligning resources to improve overall performance and organizational focus on customers and stakeholders.

Inc recognizes the BPM suite space through three different lenses:    human-centric BPM integration-centric BPM (Enterprise Service Bus) document-centric BPM (Dynamic Case Management) There are four critical components of a BPM Suite:     Process Engine – a robust platform for modeling and executing process-based applications. customer-facing processes Consolidating data and increasing visibility into and access to associated data and information Increasing the flexibility and functionality of current infrastructure and data Integrating with existing systems and leveraging emerging service oriented architecture (SOAs) Establishing a common language for business-IT alignment . and opportunities with reports and dashboards and react accordingly Content Management — provides a system for storing and securing electronic documents. and message boards BPM also addresses many of the critical IT issues underpinning these business drivers.Process Management Business process management (BPM) has been referred to as a "holistic management" approach to aligning an organization's business processes with the wants and needs of clients. BPM uses a systematic approach in an attempt to continuously improve business effectiveness and efficiency while striving for innovation. including:      Managing end-to-end. Forrester Research. and integration with technology. flexibility. and other files Collaboration Tools — remove intra. In fact. including business rules Business Analytics — enable managers to identify business issues. many BPM articles and business pundits often discuss BPM from one of two viewpoints: people and/or technology. trends. images. dynamic workspaces. BPM offers an approach to integrate an organizational "change capability" that is both human and technological.and interdepartmental communication barriers through discussion forums. As such.