Page 12 - Introduction to strategic management

2- What is a strategy?

The following are the features of a strategy (Part 2):

• Strategy deals with long term developments rather than
routine operations, i.e. it deals with probability of
1 innovations or new products, new methods of
productions, or new markets to be developed in future.

• Strategy defines the overall mission, vision and direction

2 of an organization.

• Strategy bridges the gap between “where we are” and
3 “where we want to be”.

• Strategy is a well defined roadmap of an organization.
4

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