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Definition: Strategy

The word “strategy” is derived from the Greek word “stratçgos”; stratus (meaning army) and “ago” (meaning leading/moving).

Strategy is an accomplishment that managers receive to achieve one or more of the organization’s objectives. Strategy can also be termed as “A universal direction set for the corporation and its diverse components to attain a desired position in the outlook. Strategy results from the comprehensive strategic planning procedure”.

Strategy is all concerning integrating governmental activities and utilizing and allocating the limited capital within the organizational setting so as to rally the current objectives. While setting up a strategy it is necessary to deem that decisions are not taken in a vacuum and with the intention of that any act engaged by a firm is probable to be met by a feedback from individuals affected, challengers, customers, workers or suppliers.

Strategy can also be termed as information of the goals, the ambiguity of events and the want to take into deliberation the likely or authentic behaviour of others. Strategy is the drawing of decisions in an association that shows its purpose and goals, reduces the important policies, and strategy for achieving these targets, and defines the commerce the corporation is to carry on, the type of financially viable and individual organization it wants to be, and the involvement it plans to promises to its shareholders, clientele and society at large.

Hence, this concludes the definition of Strategy along with its overview.

Browse the definition and meaning of more terms similar to Strategy. The Management Dictionary covers over 7000 business concepts from 6 categories.

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