Strategic Management Essay

2280 Words Feb 12th, 2016 10 Pages
Strategy is a plan, method, or series of actions designed to achieve a specific goal or effect. Can you explain this?
First off let us distinguish between 'A strategy' and 'A Strategic Plan'
Strategic Plan; is a systemic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them. It involves a systematic, formally documented process for deciding the handful of key decisions that an organisation, viewed as a corporate, whole must get right in order to thrive over the next few years. The process results in the production of a corporate strategic plan.
Strategy; relates to the firm or company identifying its economic, social, and environmental
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Ploy A strategy may be a ploy, in the sense of a particular maneuver designed to mislead or distract a key player, such as a business competitor. Pattern This takes us to the result of plans that turn into action, decisions that are having some result or impact. If strategies can be intentions embodied in plans to take action, the strategies are the realized decisions. The results of decisions in the form of a cascade of actions can take on forms, which may or may not be very close to the original intentions. There will be a pattern, or a set of patterns, in the stream of actions. Mintzberg affirms that a strategy may be consistency in behaviour, whether or not intended. Position Mintzberg suggests that Strategy may be considered as a position. He has in mind the location of an organisation in its environment. This may be a geographic intention like expanding internationally, or the position of a business in a particular industry. By this definition strategy becomes a matching mechanism, mediating the relationship between organisation and its context. Perspective Strategy may be a perspective in the sense of a persistent mindset regarding the world in which the organization operates. The most influential members of the organization share this mindset or perspective. This prevailing view is like an organizational personality. This worldview

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