Strategy

Strategy

1. Strategic factor

   • Goals that are simple, consistent, and long term
   • Profound understanding of the competitive environment
     • Objective appraisal of resources
   • Effective implementation

2. Link between the firm and the industry

   • The firm: goals, values, resources, structure
   • The industry: competitors, suppliers, customers

3. Strategic fit

   • A situation that occurs when a specific project is seen as appropriate with respect to and organization's objective

4. Strategic decisions

   • Are important
   • involve a significant commitment of resources
   • are not easily reversible

5. Strategy making

   • The focus is less on the detailed management of companies’ growth paths

6. Corporate strategy

   • the scope of the firm

7. Business strategy

   • how the firm competes within a particular industry

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