Strategy Definition

How we define strategic Management

When trying to define the grand term "strategy" one tends to turn to one of the great management thinkers such as Henry Mintzberg.

In this book, The Rise and Fall of Strategic Planning, Mintzberg outlines four ways that people use "Strategy":

1) Strategy as a plan, a "how and means" of getting from here to there

2) Strategy as a pattern in actions over time; for example, a company that markets cheap products is using a "low end" strategy

-3) Strategy as a position; it reflects decisions to offer particular products or services in particular markets

4) Strategy as a perspective, i.e.. vision and direction

Mintzberg states that strategy takes shape over time as goals meet a changing reality. This is what he defines as emergent strategy.

No doubt we will be returning to the subject of strategy definition in due course.