feature of strategic_management

May 29th, 2015
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A. T. Still University
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“A Strategy is the determination of the basic long-term goals and objectives of an enterprise and the adoption of courses of action and the allocation of resources to carryout these goals” -A.D Chandler “Strategies are general programs of action and development of resources to attain comprehensive objectives” -H.Koontz and H Weihrich “Strategy means large scale action plans for interacting with the environment in order to achieve long-term goals” - K.M Bartol and David C Martin

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1.Q. What do you mean by Strategy?Ans: A Companys Strategy consists of the combination of competitive moves and business approaches that managers employ to please customers complete successfully and achieve organizational objectives. A Strategy is the determination of the basic long-term goals and objectives of an enterprise and the adoption of courses of action and the allocation of resources to carryout these goals -A.D ChandlerStrategies are general programs of action and development of resources to attain comprehensive objectives - H.Koontz and H WeihrichStrategy means large scale action plans for interacting with the environment in order to achieve long-term goals - K.M Bartol and David C Martin2.Q. What does a companys strategy consist of?Ans: In the business world, companies have a wide degree of strategic freedom. The pattern of actions and business approaches define a companys strategy. Planned actions and initiatives to outcompete rivals. Move to react and respond to changing external circumstances. Actions to alter geographic coverage. Actions to merge with or acquire a rival company to strengthen the companys business position. Actions to form strategic alliance and collaborative partnerships. Actions to capitaliza on new opportunities to defend against threats to the companys well-being. Actions and approaches th

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