What is strategy: Basic terms and definitions

Abstract

It seems that everyone needs a strategy. Governments have a lot of them: extraordinary - forced, regular-planned: strategies to fight against COVID19, strategy of "fiscal" accounts, strategies to help those endangered by the fall suspension of economic activities, strategies for general health care, energy clean, "green" energy, housing construction, capital investments, etc. Each policy area seems more meaningful if there is a strategy behind it. Similarly, no company these days would dare admit that it lacks strategy. Strategy is synonymous with victory. Having a strategy has always meant having a plan to win not just one battle, but an entire war. And why is it important to have a business strategy? Having a clear and focused strategy is crucial to the potential success of your business, and without a well-defined and executed strategy your business can slip into a dead end, stall, or even fail.

Keywords

• business
• ceo
• vision
• mission
• strategy
• business model
• strategic management