Ap Corporate Strategy

Nowadays, the concept of strategy in general and marketing strategy in particular appears very popularly in modern market. Oxford Advanced Learner’s Dictionary (2005, p.1516) defines strategy as “a plan that is intended to achieve a particular purpose” or “the process of planning something or putting a plan into operation in a skilful way”. Chandler, A. D. Jr (1962, p.7) views strategy as “the determination of the basic long-term goals and objectives of an enterprise and the adoption of courses of action and the allocation of resources necessary to carry out these goals”. In another work, according to Anthony, R. N. (1965, p.15), strategy is “the process of deciding on objectives, on the resources used to attain these

According to Slack et al. The corporate strategy or business strategy is the guide lines for the whole corporation’s businesses in relation to its markets, customers, and the competitors (2007). In the same context, the same authors discussed the link between the corporate strategy and

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. A strategy is a plan of action designed to achieve a specific goal or series of goals within an organizational framework.

In order for a business or corporation to grow and expand at a calculated pace, they must be able to strategize the proper business plan to get there. A strategy is a set of analytic techniques for understanding and influencing the firm 's position in the marketplace (Raimundo, 2001). Having a business

Operational strategy refers to actions related to how a restaurant or business will correctly employ resources in the production and execution process.

Strategy does not stand alone in the organization, as it has been said above, it defines the path to accomplish objectives; so in order to have an strategy the company needs to have a defined mission, vision and objectives. The mission defines what will be achieved and what the purpose of the organization is. The vision is what the organization aspires to be in the future and provides motivation for people to perform at high level. Once the organization has clearly defined who it is and what it wants to become, it needs to establish objectives to measure accomplishments. Here is where strategy interacts, strategy is about decisions and resources that need to happen in order to accomplish mission, vision and objectives.

“Strategy can be thought of as a long term plan of action or execution designed to achieve particular objectives, such as achieving competitive advantage for an organisation. It reflects the values, expectations and goals of those who are in power within the organisation.” (RDI course material-Strategic Management module; Unit 1-Nature and scope of strategic management; Lesson 1-Nature)

“A sly rabbit will have three openings to its den” it’s an old traditional Chinese proverb. The same applies to strategy. In this fast growing and dynamically changing business world a single strategic plan won’t suffices lifetime for any industry. To be strategic means to have a foresight. Defining an objective and achieving it by going against the hurdles. It is difficult for an organisation to foresee into the future in this rapidly changing business world, problems such as globalisation, rigid organisational structures, new regulations every now and then, complex alliance and partnership. There are many different definitions for strategy. What I understand about Strategy is that it’s a long term directive to an organisation. Corporate strategy is termed as finding organisational objectives and goals and planning and action to achieve those objectives. Strategic planning is done by organisations keeping in mind few main areas. One is the external environment of the organisation is unpredictable, any new rules and regulation can be imposed. Next is an internal resource of the organisation, before making any future plans organisation must consider its internal resources. And thinking before adding new values to organisation to what it is today. (Clegg, 2011)

A strategy is a plan for the company, which has to establish a difference with its competitors, and has to preserve it in order to create a greater value. Strategy positioning is choosing different ways to achieve similar activities from the competitors.

Alfred Chandler(1963) defines strategy as ‘ the determination of the long-run goals and objectives of an enterprise and the adoption of courses of action of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals’. And Michael porter(1996) sees it as ‘Competitive strategy is about being different. It means deliberately choosing different set of activities to deliver a unique mix of value’.

A strategy is said to be a plan that is made for the long term success of a product or brand. It is extremely important to have a strategy in order to figure out a direction towards which any company is able to focus all its resources efficiently and achieve desired outcomes. Formulating effective strategies is a considerably long process in itself that combines analysing several factors, situations and issues that are already present in a company and looking to improve on them alongside trying to implement various innovations and ideas to collectively create a direction towards which they can move and direct the resources available to them.

“Strategy is the matching of the activities of an organisation to the environment in which it operates and to its own resource capabilities” (Johnson, Scholes and Whittington, 2008)

This can be achieved by expanding the firm’s products into other geographic locations and/or by increasing the range of products and services offered to current markets.

A series of correlated steps planned to attain a desired business outcome such as achieving cost minimization / internationalization / improved return on capital (note that these ones are desired outcomes or goals and NOT strategy --- Strategy describes the best possible way to move towards those target outcomes).

A strategy is an expansive based equation for how a business is going to contend, what is objectives should be, & what arrangements & approaches will be obliged to do those objectives (Porter, 2008).