Strategy
Determining goals and priorities, dos and don'ts
Strategy generally involves setting goals and priorities, determining actions to achieve the goals, and mobilizing resources to implement the actions. Strategy describes how resources will be used to achieve the goals. Strategies allow organizations to develop, describe, adapt, and implement high-level plans to achieve one or more high-level goals.
In fact, strategy can be defined as: “Strategy is the direction and scope of an organization over the long term. It helps to achieve an advantage for the organization through the configuration of resources in a challenging environment to respond to the needs of markets and meet the expectations of stakeholders.
A company can outperform rivals only if it can establish a difference that it can preserve. The essence of strategy is choosing to perform activities differently than rivals do.
