Strategy – Discussing Its Different Definitions and 3 Strategic Levels

Strategy – Discussing Its Different Definitions and 3 Strategic Levels

Introduction

Strategy can be defined as the direction of an organization over long-term planning to meet the needs of market. Strategy is about –

  • Knowing in which direction the business is going towards in long-term
  • The markets in which business should compete
  • The environmental factors that affect the ability to compete
  • Knowing about the values of those who are in power

In this article, we are going to focus on the different definitions of strategy and three strategic levels – team strategy, business unit strategy and corporate strategy. Each area is associated with some core models and tools that help in business development.

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