1.

Strategy refers to where you will concentrate your efforts in order to attain your objectives and
how you will achieve them. It specifies a course of action that will get you from where you are now to
where you want to go. As a result, strategies are the broad, action-oriented items that we use to
accomplish our goals. Strategic management is the process of establishing goals, procedures, and
objectives in order to improve the competitiveness of a firm or organization. Typically, strategic
management focuses on efficiently allocating personnel and resources to meet these objectives. A well-
defined plan is vital to the success of your organization, and without one, yours may stall or even fail.
You'll have a business and a team that are more focused, productive, and successful if you can remove
emotion from your decision-making process.

Business is the first of the three categories of strategy. It is largely concerned with how a firm
will enter the market where to play and how to win. Operational strategy is the third of the three forms
of strategy. It is observed less frequently since it signifies a complete change of a firm or organization.
Transformational strategy is the third of the three forms of strategy. It is observed less frequently since
it signifies a complete change of a firm or organization.

2. Strategists are persons or groups who are primarily responsible for strategy creation, execution, and
assessment. All managers, in a limited sense, are strategists. Outside of the company, there are people
that are active in various areas of strategic management. They, too, are known as strategists. We can
identify nine strategists who are concerned with and play a role in strategic management, either as
individuals or in organizations. It involves Consultants help organizations to solve issues, create value,
maximize growth and improve business performance. Entrepreneurs are promoters who conceive the
idea of starting a business enterprise for getting maximum returns on their investment. Board of
Directors are supposed to guide the top management in framing business strategies for accomplishing
predetermined objectives. Chief Executive Officer h/she occupies the most sensitive post, being held
responsible for all aspects of strategic management right from formulation to evaluation of strategy.
Senior Management these managers are involved in various aspects of strategic management, some of
the members of the senior management act as directors on the board usually on a rotational basis.
Corporate Planning Staff assists the management in all aspects of strategy formulation, implementation
and evaluation. Strategic Business unit level executives, under this approach, the main business unit is
divided into different independent units and is allowed to form their own respective strategies. Middle
level Managers, they are basically operational planners they may, at best, be involved as ‘sounding
boards’ for departmental plans, as implementers of the decisions taken above, followers of policy
guidelines, and passive receivers of communication about functional strategic plans. Executive Assistant
is a person who assists the chief executive in the performance of his duties in various ways.