What Strategy Is?

Lorena Cumplido Castilla 154154

WHAT A STRATEGY IS?

A strategy is a method or plan chosen to bring about a desired future, such as achievement if a goal or solution to a problema. And also is defining how the art and science of planning and marshaling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army.

We can consider a strategy like a high level plan to achieve one or more goals under conditions of uncertainty. The strategy is so importanat 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 know or emergent possibilities rather than committing to any specific fixed plan designed at the outset.

Henry Mintzberg from McGill University defined strategy as “a pattern in stream of decisions” to contrast with a view of strategy as planning while Max McKeown (2011) argues that “strategy is about shaping the future” and is the human attempt to get to “desirable ends with available means”. Exactly in this case a Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment." Strategic Management can also be defined as "the identification of the purpose of the organisation and the plans and actions to achieve the purpose. It is that set of managerial decisions and actions that determine the long term performance of a business enterprise. It involves formulating and implementing strategies that will help in aligning the organization and its environment to achieve organisational goals

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