The term strategy has entered the management literature comparatively much later than its use in Military Science. Game theorists have used strategy-in the same sense…

1. Strategy relates the firm to its environment, particularly the external environ-ment in all actions whether objective setting, or actions and resources required for its…

It is beneficial to make distinction between strategy and tactics so that managers can concentrate themselves on strategic functions rather than engaging in tactical functions….

1. Level of Conduct . As discussed earlier, strategy is developed at the highest level of management either at the headquarter or at major divisional…

Strategy may operate at different levels of an organization – corporate level, business level, and functional level.

Corporate level strategy occupies the highest level of strategic decision-making and covers actions dealing with the objective of the firm, acquisition and allocation of resources…

Business-level strategy is – applicable in those organizations, which have different businesses-and each business is treated as strategic business unit (SBU). The fundamental concept in…

Functional strategy, as is suggested by the title, relates to a single functional operation and the activities involved therein. Decisions at this level within the…

Formulation of strategies is a creative and analytical process. It is a process because particular functions are performed in a sequence over the period of…