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[23] [24] [25] However, if it is a short list of concepts, high-level objectives, principles, priorities, or frames, then concept-driven strategy offers a philosophical basis for these statements. Some organizations produce a 'strategic principles' [ 26 ] [ 27 ] statement which again is similar to a statement of intent, and the same applies ...
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. [10] The strategy may include a diagnosis of the competitive situation, a guiding policy for achieving the organization's goals, and specific action plans ...
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.
To develop a historical and developmental perspective of science and to view science as a social enterprise. To relate to the, local as well as global, and appreciate the issues at the interface of science, technology and society. To acquire the requisite theoretical knowledge and practical technological skills to enter the world of work.
Strategic management involves the related concepts of strategic planning and strategic thinking. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy.
Strategy (from Greek στρατηγία stratēgia, "troop leadership; 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]
At present, structure follows strategy; the concept is being downplayed by scholars due to the change in trends in the modern era. In the current day and age, due to the ever-evolving digital technological landscape and ever-changing dynamics in the business environment, strategies are often revised and revisited from time to time by top management of every company. [5]
A company also chooses one of two types of scope, either focus (offering its products to selected segments of the market) or industry-wide, offering its product across many market segments. The generic strategy reflects the choices made regarding both the type of competitive advantage and the scope. The concept was described by Michael Porter ...