What is strategy? •
Corporate strategy is the pattern of major objectives, purposes or goals and essential policies and plans for achieving those goals, stated in such a way as to define what business the company is in or is to be in and the kind of company it is or is to be.(Andrews) • 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 changing environment to meet the needs of markets and to fulfill stakeholder expectations. • More simply stated: • Strategy is the organisation’s sense of purpose. •
The two main frameworks of strategy processes > The prescriptive strategy > The emergent strategy