Definition of Strategy
Definition of Strategy: The term “strategy” is usually used in two perspectives. As an adjective assigning particular important to some actions, activity or process, it is possible to speak of strategic management, strategic planning or decision making. These are all dreams to be activities, which are essential to the organization existence. It can also be used as a noun, to describe a path way along which the organization moves towards its goals or objectives.
The term “strategy” stems from the natural, physical behavior and natural sciences. But much of the terminology betrays its origin: terms such as lifecycle, evolutionary niche, competitive behavior, boundary and entropy, as well as visions, mission, goals, targets and tactics. However few definitions of strategy are listed below:
1.Von Neumann & Morgenstern: Strategy is a series of actions by a firm that are decided according to the particular situation.
2.P.F. Drucker: Strategy is analyzing the present situation and changing it as necessary. Incorporated in this is finding out what one's resources are or what they should be.
3.Chandler: Strategy is the determination of the basic long run goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out those goals.
4.Glueck: Strategy is a unified, comprehensive, and integrated plan designed to assure that the basic objectives of the enterprise are achieved.
5.Steiner and Milner: Strategy is the forging of company missions, setting objectives for the organization in light of external and Internal forces, formulating specific policies and strategies to achieve objectives, and ensuring their proper Implementation so that the basic purposes and objectives of the or Organization will be achieved.
6.Jaunch and Glueck: Strategy is a unified, comprehensive, and integrated plan that relates the strategic advantages of the firm to the challenges of the environment. It is
The term “strategy” stems from the natural, physical behavior and natural sciences. But much of the terminology betrays its origin: terms such as lifecycle, evolutionary niche, competitive behavior, boundary and entropy, as well as visions, mission, goals, targets and tactics. However few definitions of strategy are listed below:
1.Von Neumann & Morgenstern: Strategy is a series of actions by a firm that are decided according to the particular situation.
2.P.F. Drucker: Strategy is analyzing the present situation and changing it as necessary. Incorporated in this is finding out what one's resources are or what they should be.
3.Chandler: Strategy is the determination of the basic long run goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out those goals.
4.Glueck: Strategy is a unified, comprehensive, and integrated plan designed to assure that the basic objectives of the enterprise are achieved.
5.Steiner and Milner: Strategy is the forging of company missions, setting objectives for the organization in light of external and Internal forces, formulating specific policies and strategies to achieve objectives, and ensuring their proper Implementation so that the basic purposes and objectives of the or Organization will be achieved.
6.Jaunch and Glueck: Strategy is a unified, comprehensive, and integrated plan that relates the strategic advantages of the firm to the challenges of the environment. It is