Setting Strategy
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“The practice of starting new organisations, particularly new businesses, generally in response to identified opportunities”

"Strategy is the direction and scope of an organisation over the longer-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations".

In defining strategy, a number of questions are addressed about the positioning and operation of the business.

These questions are addressed by an analytical approach, with the need for research of a number of aspects of the strategy and use of a range of analytical techniques.

Strategy is not just a planning exercise. Strategic management is a process that acts in the context of a clear set of criteria, bridging the strategic ‘gap’, and applying judgement but in an open decision-making approach. The organisational action can be the hardest part of strategic management.

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