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What is stratergy? 

Research Question

What is stratergy? 
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Academic Insights

Strategy is a multifaceted concept in management and organizational science, often defined as a set of programs or decisions aimed at achieving predefined goals, and it involves diagnosing challenges, making decisions, and executing actions to create sustainable advantages.

Key Insights

  • Systems Theory-Based Definition:
    • Strategy involves programs that search for means to achieve previously defined goals, linking classical notions of strategy to organizational theory .
    • This approach helps resolve contradictions between strategy and structure, clarifies the relationship between ends and means, and explains the limitations of strategy discussions to businesses .
  • Levels of Strategy:
    • Corporate-level strategy focuses on selecting business areas and coordinating a portfolio of businesses.
    • Business-level strategy aims at developing and sustaining competitive advantages for specific products or services.
    • Managerial-level strategic decision-making deals with immediate strategic challenges and opportunities .
  • Strategic Decision Characteristics:
    • Strategic decisions are characterized by their commitment, reliability, irreversibility, and the presence of uncertainty.
    • These decisions create a hierarchy among choices and are influenced by the development of capabilities and competition .
  • Planning Processes:
    • Effective strategic planning integrates both logical incrementalism and synoptic formalism, balancing interactive and analytical dimensions .
    • Decentralized decision structures combined with formal planning processes enhance organizational performance in dynamic environments .

Conclusion

Strategy is a complex and multi-dimensional concept that involves diagnosing challenges, making informed decisions, and executing actions to achieve sustainable competitive advantages. It requires a balance of different strategic levels and planning processes to be effective, especially in dynamic and diverse environments.

1

Strategy is Structure. A Systems Theory-Based Definition of Strategy

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Definition and Levels of Strategy

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A Formal Theory of Strategy

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Knowledge management for improving school strategic planning

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Contextual Determinants of Strategic Planning Processes

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Strategic Planning, Implementation, and Evaluation Processes in Hospital Systems: A Survey From Iran

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Local strategic planning processes and sustainability transitions in infrastructure sectors

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Strategic planning processes and financial performance among hospitals in Lebanon.

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Strategic Planning Processes and Hospital Financial Performance

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Value Creation Versus Value Capture: Towards a Coherent Definition of Value in Strategy

1348 citations | British Journal of Management | C. Bowmanet | 2000Cite
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Toward a new definition of rehabilitation for research purposes: a comparative analysis of current definitions.

18 citations | European journal of physical and rehabilitation medicine | T. Meyeret | 2020Cite
16

Disease Definition for Schizophrenia by Functional Connectivity Using Radiomics Strategy

58 citations | Schizophrenia Bulletin | Long-Biao Cuiet | 2018Cite

Related Questions

  • What are the key components of a strategy?
  • How do you develop an effective strategy?
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  • Why is strategy important in business?
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