Strategy is derived from the Greek word strategia whichmeans "generalship". In military strategy refers to the deployment oftroops in a planned manner to win over enemy. Once the enemy is engaged thefocus is on tactics and just as military forces might take the high groundprior to engaging the enemy, might a business take the position of low-costprovider or may provide any one of the three:


  1. operational excellence
  2. customer intimacy or
  3. product leadership.


Strategic management is a broad based plan using the art,science and craft of planning, implementing and evaluating cross-functionaldecisions that will enable an organization to achieve its goals. It is theprocess of laying down the objectives of a company and then allocatingresources to implement the policies, plans, projects and programs. Strategicmanagement seeks to coordinate and integrate the activities of variousfunctional areas of organizations in order to achieve the business objectives.Various methods like SWOT analysis, Profit Impact of Marketing Strategy (PIMS)are used to evaluate the progress of the business towards its objective.



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About the Author:


The author;Mr. Amit K. Srivastava is the CEO of Namo Textile Co. Pvt. Ltd.