The view on what strategy means, varies as it is expected. The reason for the existence of different definitions is the Greek root of the word strategy means the art of war. Some definitions are:
Strategy is the skill of administering or planning (Webster 's New World Dictionary, 1992).
Strategy is the direction and scope of an organization in the long term, combining the resources of the organization with the changing environment and more particularly to markets and clients, in order to meet the expectations of all stakeholders (G. Johnson and K. Scholes, 1993).
Strategy is to identify the key objectives of a business, adopting a series of actions and the allocation of appropriate resources to achieve these objectives (Feurer &. Chaharbaghi, 1997)
In a large extended, multi-branch company are three interdependent levels of strategy: corporate-level strategy, business-level strategy and functional-level strategy.
The corporate level strategy is the overall plan of management that extends across the organization can act as an "umbrella" covering all business units and includes the movements to be made for the installation of business units in various sectors. The corporate-level strategy is generally referred to in the following initiatives in terms of top management:
The construction and management of a portfolio of products or services in high performance. This involves strengthening the existing business units and the exclusion of units that do not fit the plans of the administration.
In synergy among related business units to gain a competitive advantage.
The prioritization of investments and allocation of operational resources in the most "attractive" in terms of opportunities for points.
The monitoring and review of the most relevant approaches and actions proposed by the executives of the business level.
The business strategy refers to the administration moves to achieve good profitability in each business unit within the organization.
References: Books / Articles British Airways, (2012), Our strategy and objectives, annual report and accounts 2011/2012 British Airways, (2011), Our strategy and objectives, annual report and accounts 2010/2011 British Airways, (2010), Our strategy and objectives, annual report and accounts 2009/2010 British Airways, (2009), Our strategy and objectives, annual report and accounts 2008/2009 British Airways, (2008), Corporate Responsibility, annual report and accounts 2007/2008 David F.R. (2012), Strategic Management, Prentice Hall DeGeorge, R Feurer R. and Chaharbaghi, K. (1997), Strategy development: past, present and future”, Training for Quality, Vol. 5, No. 2, σελ. 58-59 Georgopoulos, N Johnson G. and Scholes K. (2002), Exploring Corporate Strategy: Text and cases, sixth edition, Prentice Hall, σελ. 280, 290 Luffman, G., Sanderson, S., Lea, E Luxinnovation G.I.E., (2008), Ansoff Matrix = The product/market grid, The National Agency for Innovation and Research in Luxembourg McKiernan, P., (1992), Strategies for Growth, Routledge Papadakis, V. (2007), Business Strategy, Publishing G. Benos, Athens Porter M Pun, Κ. F. (2004), A conceptual synergy model of strategy formulation for manufacturing, International Journal of Operations & Production Management, Vol. 24, No. 9, σελ. 905 Sarsentis,V Thesus, A. (2013), British Airways Strategic Management Webster’s New World Dictionary, (1992) Wheelen T.L., and Hunger J.D. (2004), Strategic Management and Business Policy, Prentice Hall Vithinos, G