So, firms now, have a hierarchy of interrelated strategies, formulated by different levels of the firm.
In fact, hierarchy in strategies originated in 1920s, when some of the largest US firms started to diversify strategy (Bala Chakravarthy and James Henderson, 2007). Most organisations do not have a single comprehensive strategy any more these days. The simplest definition of Strategy has been provided by Ohmae (n.d., cited by Michael Thomas, 1989), which sees strategy "as meaning paying attention to customer needs and avoiding direct competition".Strategy is hence, "a design or plan that defines how policy is to be achieved." (Warnock Davies, 2000).
"Strategy is a way of thinking about a business, of assessing its strengths, of diagnosing its weaknesses, of envisioning its possibilities." Therefore, "strategy is not something we have, it is something we do and have to keep doing in order to support and grow as a successful business or organisation." (Jonathan Pugh, L. Strategy is not a thing it is rather an on-going process. It is formed from ‘stratos’, meaning army and ‘ag’, meaning to lead (Warnock Davies, 2000).Īlthough ‘strategy’ first became a popular business catchphrase during 1960s, it continues to be subject of widely differing definitions and interpretations. It comes from the Greek word ‘strategos’, meaning ‘a general in command of an army’. The word ‘Strategy’ was originally introduced and defined in ancient military texts. The Contemporary Issues In Strategic Marketing Marketing Essay
0 kommentar(er)
