What Is Strategy?

1. A company's strategy is management's game plan for how to grow up the business, how to attract & please customers, how to compete effectively, how to conduct operations & how to accomplish targeted objectives.

2.  Normally, companies have a wide degree of strategic freedom in choosing the "how" of strategy:-

(I). they can compete in a on its own industry.

(ii) They can diversify narrowly or largely.

3. Markets are typically varied enough to offer competitors enough latitude to avoid look-alike strategies.

4. At company's plan on gaining sales & market share at the expense of competitor, managers lean toward most unpleasant strategy while conventional risk-avoiding companies prefer a sound protection to an aggressive offense.

5. Here, no shortage of opportunity to fashion a strategy that strongly fits a company's own exacting situation & that is discernibly different from the strategies of rivals.

6.  Typically, a company's strategic choice are based partly on trial-and-error organizational learning about what has worked or What has not, partly on management's desire for risk taking & partly on managerial analysis & strategic thinking about how to best proceed, given all the prevailing conditions.