Strategy is a broad based formula for how business is going to be compete, what its goals should be, and what policies will be needed to carry out these goals. The essence of formulating competitive strategy is relating a company to its environment.
Porter (1980), Competitive Strategy
The definitions of strategy change from scholar to scholar. There is no agreed way to define strategy as the interpretations of each writer are based on methodological preference (Robson, 1997). The above definition is an example of Porters stance on what a strategy is.
Strategic planning Strategic manageme…
