“Seven definitions of ‘strategy’ from the perspective of management thought leaders”

1️⃣ Jack Welch Strategy means making clear and precise decisions about how we will compete with others.

2️⃣ Michael Porter Strategy means doing what others do with fewer resources (more efficiently) and doing things that no one else does.

3️⃣ Sharon Oster Having a strategy means that when our set of decisions is observed, a specific pattern can be identified in them.

4️⃣ Alfred Chandler Strategy means determining long‑term goals for the organization, preparing appropriate action plans, and allocating the necessary resources to achieve those goals.

5️⃣ Hoffer & Schendel Strategy consists of activities that ensure alignment between the organization’s internal resources and capabilities and the opportunities and threats of the external environment.

6️⃣ Henry Mintzberg Mintzberg believes concepts like strategy cannot be captured in a single definition and that multiple definitions must be accepted. He proposes five characteristics for defining strategy: 🔹 Strategy as a Plan 🔹 Strategy as a Ploy 🔹 Strategy as a Pattern 🔹 Strategy as a Position 🔹 Strategy as a Perspective

7️⃣ Pisano Pisano states that strategy is nothing more than a commitment to a specific behavioral pattern in order to compete, and it leads to a fundamental assumption: what leads to winning.

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