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Strategy is important because the resources available to achieve goals are usually limited. Strategy generally involves setting goals and priorities, determining actions to achieve the goals, and mobilizing resources to execute the actions. [4] A strategy describes how the ends (goals) will be achieved by the means (resources). [5]
A strategy describes how the ends (goals) will be achieved by the means (resources) in a given span of time. Often, Strategic planning is long term and organizational action steps are established from two to five years in the future. [2] The senior leadership of an organization is generally tasked with determining strategy.
Encirclement – Both a strategy and tactic designed to isolate and surround enemy forces; Ends, Ways, Means, Risk – Strategy is much like a three legged stool of ends, ways, means balanced on a plane of varying degree of risk; Enkulette – A strategy used often in the jungle that aims at attacking the enemy from behind.
In 1988, Henry Mintzberg described the many different definitions and perspectives on strategy reflected in both academic research and in practice. [14] [15] He examined the strategic process and concluded it was much more fluid and unpredictable than people had thought.
The strategy is typically set by business leaders such as the chief executive officer and key business or functional leaders and is reviewed by the board of directors. [ 3 ] An AI strategist uses evidence and reason to make circumstance-dependent decisions that shape the development of AI towards a set of desired outcomes.
Strategy making with this group begins with the organization's strategy story. Using middle managers in this role allows these individuals to raise their own strategic leadership bar. And it is through these middle managers that the organizational story becomes more accessible in those settings and situations that they know much more intimately ...
Strategic thinking is a mental or thinking process applied by individuals and within organizations in the context of achieving a goal or set of goals.. When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization.
Business strategy, the art and science of enabling an organization to achieve its objective Marketing strategy, a process that allows an organization to increase sales and achieve a competitive advantage; Technology strategy, how information technology should be used as part of a business strategy