Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations(http://tutor2u.net/business/strategy/what_is_strategy.htm).
My own definition states that A strategy is a direction and scope of the organisation to achieve the long term goal.This includes competition involved in the business,environment factors and also about the resources required.
DIFFERENT LEVELS OF BUSINESS:
There are three levels of business namely:
Corporate level Strategy
This is concerned with the overall purpose and scope of the business.
Business Unit Strategy
This is concerned with the product choice and the meet with customer.
Operational Strategy
This is concerned with the resources, process and the delivery.
STRATEGIC ANALYSIS:
There are differnt strategic analysis namely PEST analysis,scenario planning,five forces analysis,market segmenation,directional policy matrix,SWOT analysis,competitive analysis and critical success factoe analysis.
STRATEGIC PLAN:
The strategic plan is likely a short term plan to achieve a business,some of the key steps for the strategic plan as follows Vision, Mission, Values Objectives,Strategies,Goals and Programs(http://www.planware.org/strategicplan.htm).
I have changed my view in the definition of the strategy; it cannot be a long term because the strategy is something changed according to the current environment. if it is the long term it should be goal of the organisation or the definied abstract.
REFERENCE:
http://tutor2u.net/business/strategy/what_is_strategy.htm,[accessed on 20th january,2009].
http://www.planware.org/strategicplan.htm,[accessed on 22nd january,2009].
Jasmine,
ReplyDeleteThe articles on strategic plan are really clear, concise but detailed, insightful to read in regard to business strategies and all. In this case, they have explored in detail on building effective strategies from a business context, but nonetheless apply to other contexts like war.
Thanks a lot, and I have included the link to my broweser's favourites.
clearly explained in a step by step way about the strategies and their different types. very useful for those who dont know anything about strategies and even the examples provided are very useful like the pest analysis and all.
ReplyDeleteI am generally unhappy with this article, although there is one good thing at the end of it.
ReplyDeleteFirst, you start with a quote from a URL that you do not make clear is a quote. You are giving me somebody else's thinking. I want to understand your position, with a proper, explicit argument using authoritative sources (not merely unauthoritative or commercial online resources). Most importantly I want to see the ideas set in the context of an organisation.
Unless you go deeper (not rely on bits and pieces online) you will miss the fact that there many, many approaches to strategic planning. You don't have to go into any detail for KM Strategies, but you need to have better mastery of the subject (it's a programme for masters!).
The thing I like at the end of your article is your change of mind. That was good reasoning. It would be better with an example. (Also please explain the meaning of the last few words.)