1.1: Strategy – ‘In Search of
Meaning’
As a student of strategy, you will come across widespread definitions of this term,
and frankly, we cannot dwell upon on them all in the context of this module. But to
start you off here are some known definitions of strategy:
Strategy: a plan, method or series of actions designed to achieve a specific goal
or effect (Wordsmyth Dictionary (Links to an external site.)).
Strategy is the pattern of objectives, purposes or goals and the major policies
and plans for achieving these goals, stated in such a way as to define what
business the company is in or is to be in … (Kenneth Andrews – The Concept of
Strategy, Irwin, 1971).
The determination of the long-run goals and objectives of an enterprise and the
adoption of courses of action and the allocation of resources necessary for
carrying out these goals (Alfred Chandler – Strategy and Structure, MIT Press,
1962).
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