Strategy can mean many things. When
it comes to business strategy it can mean lot more. Here is a preview:
1. Business strategy is defined as “a well thought out long term
plan incorporating chosen methods, moves or a series of maneuverers chalked out
by senior managers for obtaining a set of specific objectives of a business”.
This definition characterises strategy as long-term, multi-dimensional,
complex, and high-flown and having huge impact on business performance
2. Analysts consider strategy as the thinking part of the business
process driven by the vision of the stakeholders
3. Although static in nature, strategy gives direction and sense of
purpose in movement towards achieving business objectives
4. Value optimization is the anchor on which strategy is fastened;
by this, business seeks best possible benefits in a sustainable manner and over
a long-term span
5. Integration is the means whereby strategy connects various
competing and complementary elements within a business. Like an alchemist,
corporate management tries to drive the best mix, blend or configuration of
resources and capabilities of business. In sum, strategy fuses many parts
together to form a meaningful whole with a view to achieve set goals. For
example, a business that has trained human resource and has identified a niche
market could use a perfect configuration to get optimum results from an
opportunity
6. The theme strategy is for long –term and of static nature can be
further laboured to see a nuance in terms of how a business responds to
changes. You cannot easily adjust strategy to changes that are taking place in
the market on a day-to-day basis. Nether strategy allows you to re-act to each
change in a short time. Factoring market movements, alteration in consumer
preferences and shift of business cycle into strategy takes quite some time.
Cheers!
Muthu Ashraff Rajulu
Business Strategist
Mobile: + 94
777 265677
E-mail: cosmicgems@gmail.com
Blog: Business Strategist
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