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Therefore, a strategy should combine proactive and reactive approaches, which means recognizing the organization’s impact on the environment and acting to minimize harm while adapting to new demands. The strategy should also align internal and external aspects of the organization and include all related entities.
The output of strategic planning includes documentation and communication describing the organization's strategy and how it should be implemented, sometimes referred to as the strategic plan. [ citation needed ] The strategy may include a diagnosis of the competitive situation, a guiding policy for achieving the organization's goals, and ...
Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning. [7] [8] [9] Michael Porter identifies three principles underlying strategy: [10] creating a "unique and valuable [market] position" making trade-offs by choosing "what not to do"
There is also a consensus on whether strategic thinking is an uncommon ideal or a common and observable property of strategy. It includes finding and developing a strategic foresight capacity for an organization, by exploring all possible organizational futures, and challenging conventional thinking to foster decision making today.
Strategy implementation is the activities within a workplace or organisation designed to manage the activities associated with the delivery of a strategic plan.
Some examples of "games" include chess, bridge, poker, monopoly, diplomacy or battleship. [2] The term strategy is typically used to mean a complete algorithm for playing a game, telling a player what to do for every possible situation. A player's strategy determines the action the player will take at any stage of the game.
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Considering the company's mission and vision is a key determining factor when performing a go-to-market strategy. Motivating employees to perform well is a decisive factor to include. Thus, defining a company's vision and the impact it is trying to create is essential in the earliest stages of a go-to-market strategy. [9] [10]