BU288 Lecture 6: Bu288 lesson 6
Document Summary
Michael porter: strategy is a combination of the ends (goals) for which the firm is striving and the means (policies) by which it is seeking to get there. " Kepner tregoe says that strategy is "the framework which guides those choices that determine the nature and direction of an organization. " William f. glueck: strategy is a unified, comprehensive and integrated plan design to assure that the basic objectives of the enterprise are achieved. It may have to be changed or modified as per the changing needs of the business and its environment. It"s all about survival til the end: top level management: strategies are formulated by the top-level management of the company. The management will have to consider both when deciding upon any course of action: action-oriented: strategy is relative combination of different actions. Actions could be to meet a particular situation, to solve a specific problem, or to accomplish a desirable objective.
