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Strategy (from Greek στρατηγία stratēgia, "art of troop leader; office of general, command, generalship" [1]) is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. [2]
SWOT analysis evaluates the strategic position of organizations and is often used in the preliminary stages of decision-making processes [2] to identify internal and external factors that are favorable and unfavorable to achieving goals. Users of a SWOT analysis ask questions to generate answers for each category and identify competitive ...
Strategic management processes and activities. Strategy is defined as "the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals."
For strategic planning to work, it needs to include some formality (i.e., including an analysis of the internal and external environment and the stipulation of strategies, goals and plans based on these analyses), comprehensiveness (i.e., producing many strategic options before selecting the course to follow) and careful stakeholder management ...
In strategic management, situation analysis (or situational analysis) refers to a collection of methods that managers use to analyze an organization's internal and external environment to understand the organization's capabilities, customers, and business environment. [1]
Strategic planning's role is "to realise and to support strategies developed through the strategic thinking process and to integrate these back into the business". [14] Henry Mintzberg wrote in 1994 that strategic thinking is more about synthesis (i.e., "connecting the dots") than analysis (i.e., "finding the dots"). It is about "capturing what ...
Strategic analysis typically focuses on two views of organization: the industry-view and the resource-based view (RBV). These views analyse the organisation without taking into consideration relationship between the organizations strategic choice (i.e. Porter generic strategies) and institutional frameworks. The diamond model is a tool for ...
New product development is vigorously pursued and offensive marketing warfare strategies are a common way of obtaining additional market share. They respond quickly to any signs of market opportunity, and do so with little research or analysis. A large proportion of their revenue comes from new products or new markets.