What is Strategy ?
* The term ' strategy ' is derived from a Greek word strategos which means generalship or the art of the generals.
* The word strategy means the art of the generals to fight a war.
* The word strategy has entered in the field of management from the military services where it refers to apply the forces against an enemy to win a war.
* The art of planning and directing overall military operations and movements in a war or battle.
* It includes the determination and evaluation of alternative paths to an already established mission or objective.
Types of Strategy : -
* Corporate
* Business
* Operational or Functional
Definition - Strategy is a long term plan designed to achieve the overall objective of the firm.
What is Strategic management ?
Strategic management involves developing and implementing plans to help any organisation achieve its goals and objectives. This process includes formulation of strategic planning, organisational structure and resource allocation.
Concept - Strategic management is the concept of identification, implementation and management of the strategies that helps to carry out goals and objectives of organisation.
