BNET Business Dictionary

Business Definition for: Strategy

a course of action, including the specification of resources required, to achieve a specific objective
a planned course of action undertaken to achieve the goals and objectives of an organization. The term was originally used in the context of warfare to describe the overall planning of a campaign as opposed to tactics, which enable the achievement of specific short-term objectives. The overall strategy of an organization is known as corporate strategy, but strategy may also be developed for any aspect of an organization's activities such as environmental management or manufacturing strategy.

Wiktionary Definition for: Strategy

#The science and art of military command as applied to the overall planning and conduct of warfare
#A plan of action intended to accomplish a specific goal
#The art of using similar techniques in politics or business

Additional Resources

Executing Strategy with the Balanced Scorecard: Executing Strategy with the Balanced ScorecardRE: Executing Strategy with the Balanced ScorecardI consider adapting business to Balanced Scorecard itself is a strategy and the four quadrants for defining objectives is a sure way to paln and align organization using appropriate business systemRE: Executing Strategy with the Balanced ScorecardQuite often a...; Tags: Executing Strategy, Balanced Scorecard, strategy; Discussion threads 2008-08-14
DTN News: Obama And The U.S. Strategy Of Buying Time: DTN News: Obama And The U.S. Strategy Of Buying Time *Source: By George Friedman STRATFOR NSI News Source Info KOTTAKKAL, Kerala, India - November 3, 2009: Making sense of U.S. President Barack Obama's strategy at this moment is difficult. Not only is it a work in...; Tags: U.S., George W. Bush, strategy, Power; News items 2009-11-04
Whose Recession Strategy Is the Smartest? | BNET Poll: Whose Recession Strategy Is the Smartest? | BNET PollRE: Whose Recession Strategy Is the Smartest? | BNET PollAs always in life the right answer is the one that fits your business the best. I make my plans on the facts and conditions that surround my business, not herd think.RE: Whose...; Tags: Recession Strategy, BNET Poll, recession; Discussion threads 2008-10-23
How Managers' Everyday Decisions Createâ��or Destroyâ��Your Company's Strategy: The Idea in Brief Top leaders' formal strategies determine how business gets done in your firm—right? Wrong, say authors Joseph Bower and Clark Gilbert: It's other ...; Tags: Management, Strategy, Joseph L. Bower, In Brief, Harvard Business Review, Implementation, Manager, Clark G. Gilbert; Articles 2007-11-07
How to Set Up an Office of Strategy Management: Here's a great article brief from Harvard Business Online on why businesses need an Office of Strategy Management or OSM. The article argues that most businesses fail to reach profitable growth because of the strategic disconnect that exists between different departments within the company. How can you solve this? The...; Tags: Performance, Strategy, Article, Microsoft Office, Management, Joseph De Avila; Blog posts 2007-05-25

Implementing a Marketing Strategy: Choosing and implementing a rock-solid marketing strategy is probably the single most important factor contributing to the long-term sustainable success of any business venture. Yet, most businesses don't have one. Even businesses that do have a strategy often do not implement it one hundred percent. Small businesses that have the...; Tags: Marketing research, benefit, game, marketing, marketing strategy, sales, small business, strategy, vision, Web, Web site, BNET Editorial; Articles 2007-06-26
The Secrets to Successful Strategy Execution: A brilliant strategy may put you on the competitive map. But only solid execution keeps you there. Unfortunately, most companies struggle with implementation. That's because they overrely on structural changes, such as reorganization, to execute their...; Tags: In Brief, Harvard Business Review, Management, Elizabeth Powers, Performance, Karla L. Martin, Gary L. Neilson, Strategy; Articles 2008-07-18
A Branding Strategy Horror Story: A Branding Strategy Horror StoryRE: A Branding Strategy Horror StoryA smart reader just emailed me this reponse:I think you've confused strategic execution and strategic planning. Businesses should have a well-defined and understood strategy, generally the simpler the better, and you're right when you say corporate politics often prevents everyone aligning...; Tags: Strategy, Branding Strategy Horror story, Branding Strategy Horror, Branding Strategy, branding; Discussion threads 2008-10-14
The Chief Strategy Officer: The Idea in Brief Even the most compelling strategy is useless if it isn't implemented. But in many companies, no one's driving execution. CEOs, grappling with the complexity of doing business in a global economy, are too...; Tags: Chief Strategy Officer, Walter E. Shill, Paul F. Nunes, R. Timothy S. Breene, In Brief, Harvard Business Review, Execution, Management, Strategy, CSO; Articles 2007-11-07
Developing an Online Strategy: An increasing number of marketing activities including advertising, direct marketing, relationship-building, customer service, and channel support are now Internet-based. It's essential to identify the activities that can move effectively to the Web and ensure that they're produced to the same rigorous standards as traditional marketing activities. An online strategy can...; Tags: Web, Product, Customer, Information, Web Site, E-mail, Service, Microsite, Self-service, Web Site Development, Marketing Research, Web Technology, Channel Management, Strategy, Marketing, Internet Marketing, Internet, Management, BNET Editorial; Articles 2007-12-18
Turning Great Strategy into Great Performance: The Idea in Brief Most companies' strategies deliver only 63% of their promised financial value. Why? Leaders press for better execution when they really need a sounder strategy. Or they craft a new strategy when execution is the true weak spot. How to avoid these errors? View strategic...; Tags: In Brief, Harvard Business Review, Richard Steele, Michael C. Mankins, Management, Performance, Barclays Plc., Strategy; Articles 2008-02-13
How chief strategy officers think about their role: A roundtable: Chief strategy officers from several high-profile companies discuss the complexities and challenges of the role. As companies struggle to meet the challenges of today's complex business environment by developing short- and long-term strategic visions, the role of chief strategy officer CSO has become increasingly prominent....; Tags: Chief Strategy Officer, Strategy, Management, Renée Dye, McKinsey; Articles 2008-10-23
A Market Strategy to Copy: A Market Strategy to CopythanksThanks Geoffrey. From here on out I will forever see a big croquet ball when their new logo flashes past my eyes.small to big ballThe ball also looks like a designer Big red Fullstop after a small size xerox. May be a beginning of a Big...; Tags: Market Strategy, strategy; Discussion threads 2008-01-11
Will Your Sales Strategy Work?: There are as many sales strategies in the world as there are companies that have sales forces. Even so, it's extremely easy to find out whether a company has a sales strategy that's going to fail, regardless of the details. Just ask the...; Tags: Management, Sales, Sales Force Management, Sales Strategy, Geoffrey James, Strategy; Blog posts 2008-04-18
Executing Strategy with the Balanced Scorecard: The originators of the Balanced Scorecard approach to management are at it again with a new book that urges executives to make strategy a continuing process that is embedded deeply throughout the organization. The Execution Premium: Linking Strategy to Operations for Competitive Advantage by Harvard Business School...; Tags: Balanced Scorecard, Strategy, Management, Sean Silverthorne; Blog posts 2008-08-14
Strategy in a â��Structural Break': During hard times, a structural break in the economy is an opportunity in disguise. To survive—and, eventually, to flourish—companies must learn to exploit it. There is nothing like a crisis to clarify the mind. In suddenly volatile and different times, you must have...; Tags: Break, Capital Structures, Economy, Finance, Financial-services Industry, Functions, Management, McKinsey, Mortgages, Strategic Thinking, Strategy; Articles 2009-01-12
Why CEOs Shouldn't Set Strategy: Are you spending too much time trying to come up with detailed strategy development? Take a step back, let your team take the lead, and then hold them accountable for the results. Three reasons why CEOs should stay out of strategy-setting: You don't know...; Tags: Team, CEO, Team Management, Strategy, Management, Stuart Cross; Blog posts 2008-06-05
Three Forms of Strategy : General, Corporate & Competitive: The preceding discussion asserts that strategy in general is concerned with how particular objectives are achieved, with courses of action. Corporate strategy is concerned with choices and commitments regarding markets, business and the very nature of the company itself. Competitive strategy is concerned with competitors and the basis of competition....; Tags: Fred Nickols, Strategy, Management; White papers 2003-01-01
Is the Chief Strategy Officer Necessary?: Is the Chief Strategy Officer Necessary?Not alwaysStrategy is always needed. A CSO isn´t. This depends on business size, complexity and style of direction from the Chairman/CEO.RE: Is the Chief Strategy Officer Necessary?In my experience, two forces drive the need for strategy coordination:1) the strong pull of tactical demands on C-level...; Tags: strategy; Discussion threads 2008-05-26
Strategy is Execution: Strategy is the first step of business development plan. Strategy is many things: plan, pattern, position, ploy and perspective. As plan, strategy relates how one intend realizing the goals. As pattern, strategy is the "rhyme and reason" that emerges in the course of making the endless decisions that reconcile the...; Tags: Fred Nickols, Strategy, Management; White papers 2003-01-01