Strategy

Strategy is “means to ends, and these ends concern the purpose and objectives of the organization”[1]. Strategy is “used in business to describe how an organization is going to achieve its objectives”[2]. It has been noted that “strategy is about marshalling the gross resources of the organization to match the needs of the marketplace and achieve the business objective, this cannot be  a short-term activity”[3].

In simple terms, business strategy “consists of what management decides about the future direction and scope of the business”[4].

There is a wide range of strategic analytical tools, models and frameworks that can assist with the various aspects of development and implementation of business strategy. These include the following:

• Gaps Model of Service Quality
• Greenfield investment
• McKinsey 7s Model
• New market entry strategies
• PESTEL analysis
• Porter’s Five Forces analysis
• Strategy as Revolution
• SWOT analysis
• “Think Globally, Act Locally”: a critical analysis
• Value chain analysis

Some of the above (hyperlinked) are explained in this portal. The list above is going to be regularly expanded to include in-depth explanation of the most important strategic analytical tools, models and frameworks.

[1] Thompson, J.L. & Martin, F. (2010) “Strategic Management: Awareness & Change” Cengage Learning

[2] Sekhar, G.V.S. (2010) “Business Policy and Strategic Management” I.K. International Pvt Ltd

[3] Fiflied, P. (2012) “Marketing Strategy” 3^rd edition,  Routledge

[4] Rao, C.A., Rao, B.P. & Rao, K. (2009) “Strategic Management and Business Policy: Text and Cases” Excel Books