The word strategy comes from the Greek word which originally referred to a general in command of an army.

The ability to employ forces to defeat opposing forces. Strategy is planned and actual coordination of the firms major goals and actions that continuously co-align the firm with its environment. Actions are initiatives, moves, deals, responses, investments and developments. Coordination refers to goals and means to achieving them for instance, resources and infrastructure. Co-alignment refers to adapting the environment. Strategy reflects vision, mission, and core values. Strategy is all about how to get from where we are now TO where we want to be. It is journey plan.............. Strategies are the ways of pursuing the vision, identifying and exploiting the opportunities, and anticipating and responding to threats. According to Alfred Chandler................... The determination of the long term goals and objectives of the enterprise, and the adoption of the courses of action and allocation of resources necessary for carrying out those goals.

There are several approaches to strategic thinking: The classical school: This view assumes that there is one best answer to strategy and that rational thinking will lead to it. Rational planning is the means to achieve it. The evolutionary school: Another school of thought is the evolutionary school which assumes that Markets not managers determine success. Success is achieved through Survival of the Fittest which entails adaptability so the best strategy is flexibility.

The systematic school: This school of thought argues that social context is all important. The social and economic contexts in which firms are embedded vary.

The Processual school: Strategy is about satisficing achieving solutions that are not perfect or ideal but are good enough and workable. There could be uncertainties and conflicts in values in the hope of obtaining the ideal solution.