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Chap1 Type of Strategy

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  Introduction- Strategy “Without a strategy the organization is like a ship without a rudder, going around in circles.”   - Joel Ross and Michael Kami  What is Strategy?   Strategy means deciding where you want to go and how to get there.   Strategy is a scientific and structured response to leverage uncertainty.   Strategy can be defined as interpretative  planning, includes the determination and evaluation of alternative paths to an already established mission and eventually choosing the right alternatives.  Strategy v/s Operational Efficiency  Strategy  Operational Efficiency  Operational Efficiency becomes a necessary condition, but is very far away from being sufficient condition.  What is Strategy?  Strategy is management’s   “game    plan”    to  Attract and please customers  Stake out a market position  Conduct operations  Compete successfully  Achieve organizational objectives
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