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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]
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."
Strategic planning is a process and thus has inputs, activities, outputs and outcomes. This process, like all processes, has constraints. It may be formal or informal and is typically iterative, with feedback loops throughout the process.
Hoshin Kanri (Japanese: 方針管理, "policy management") [1] is a 7-step process used in strategic planning in which strategic goals are communicated throughout the company and then put into action. [2] [3] The Hoshin Kanri strategic planning system originated from post-war Japan, but has since spread to the U.S. and around the world.
There is a generally accepted definition for strategic thinking, a common agreement as to its role or importance, and a standardised list of key competencies of strategic thinkers. [7] There is also a consensus on whether strategic thinking is an uncommon ideal or a common and observable property of strategy.
After the 2000 presidential election, people inside the Bush White House reportedly began using the term as a joke, but it later became a term of art meaning the oversight of any activity by Bush's political consultants. Bush's strategists also came to be known within the White House as "The Department of Strategery", or the "Strategery Group".
The strategy role exists in a variety of organizations and fields of study. In large corporations, strategic planners or corporate financial planning and analysis (FP&A) personnel are involved in the formulation and implementation of the organization's strategy. The strategy is typically set by business leaders such as the chief ex
In strategic planning and strategic management, SWOT analysis (also known as the SWOT matrix, TOWS, WOTS, WOTS-UP, and situational analysis) [1] is a decision-making technique that identifies the strengths, weaknesses, opportunities, and threats of an organization or project.