Strategy

Strategy is a plan of action designed to achieve a specific goal or objective. It involves the determination of long-term objectives, the allocation of resources, and the formulation of policies and plans to reach these objectives. Strategy outlines how an organization or individual intends to position itself in relation to its environment, competition, and available resources. In a business context, it often encompasses market positioning, competitive advantage, and resource management to ensure sustainable success. Strategies can be formulated at various levels, including corporate, business, and functional levels, each focusing on different aspects of operations or initiatives. The effectiveness of a strategy is assessed based on its ability to align with the overarching vision and mission while adapting to changes in external conditions.