This article reviews the definition of strategy in the opinion of various authors. Different organizational strategies and the corresponding types of the strategies are also reviewed with reference to various research papers done and the actual review is as given in the later sections.
Definition of strategy
The word strategy comes from the Greek word ‘stratos’ which is a that is generally used by army as a sort of future planning process to attain success by the top level. This word is natively concerned with military forces as the process of planning, coordinating and directing military operations at the time of war. The word strategy has largely come into existence when the organizations began to use this word.
This happened post the second world war when the army heads of both the sides of Atlantic were called to assess the business process with their knowledge of the successful tactical fundamentals that were used in the wars. The concept of strategy as it was understood in early days in the 1960s is: “The establishment of set goals and objectives of an organization and the implementation of certain courses of action along with the allocation of required resources for attaining these goals”.
“Business strategies guide people in the organization by setting up certain frame work of informal rules to follow in order to perform the work. They are said to be a set of actions that the group of people in the enterprise exhibit. They are effective because they give a distinctive form and structure to the organization even they employ the same procedures, rules, technologies and guidelines”.
The disposal of strategic terms to the team in the organization and implementing it is a part of the formalized strategic planning system making use of the resources and the environment. Strategic communication is a term that is defined in different dimensions by various researchers but the prime focus of the process is to establish an enterprise to hold a strong market position and to make the organization capable of withstanding the consequences of unprecedented events, internal problems and strong competition.