What makes a good Corporate Strategy? …show more content…
According to the Merriam Webster Dictionary (2015), the term strategy refers to a careful plan or method of achieving a particular goal usually over a long period of time. It also defines strategy as the science of employing political, economic and psychological forces to afford maximum support for espoused polices (Merriam Webster, 2015). The Business Dictionary (2015) offers another perspective, defining strategy as a method chosen to bring about a desired future or a solution to a problem. It also defines strategy as the art of planning or marshaling resources or their most efficient and effective use (The Business Dictionary, 2015). However, according to George Steiner, strategy is simply the important actions required to realize purposes and missions (Nickols, 2012). This viewpoint is also echoed by Henry Mintzberg, who according to Nickols (2012) defines strategy as plan or patter on how to implement a vision or