WHAT IS STRATEGY

Strategy means how an organization or an individual can achieve certain goals by

allocating appropriate resources to that aim or goal. Strategy formulation gives answers
to two basic questions. Where should we compete and how should we compete?. By
giving answers to these questions, strategy serves as a mediation bet firm with its
resources and the industry environment with its challenges and opportunities. In
conclusion, strategy is what we need, what position we will be able to achieve, what our
competitive advantage is gonna be at the end of the day as we take steps cumulatively
over a period of time.
WHAT IS NOT STRATEGY
Strategy as aspiration such as “our strategy is to be number 1 or 2” is not a strategy.
Being at a certain position or numbers is the goal and how you get there or achieve it
can be a strategy.
Strategy as action such as “Our strategy is to merge” cannot be a strategy. Because it
won’t tell you how you’re unique, what are your advantages, or what is your position in
the market.
Similarly, strategy as something important, vision/mission, or an experiments cannot be
a strategy