Company strategy

Abstract

The word strategy derives from the Greek word strategos, which derives from two words: stratos (army) and ago (ancient Greek for leading). Company strategy is a method or plan chosen from the company management in order to achieve specific goals or to solve a problem occurred. It is also the art of planning and marshaling company resources for most efficient and effective use. Basically, it is a leadership plan. There are three types of strategic planning that are essential to every firm: business, corporate and functional. A business strategy is the means by which each company manage to achieve its desired ends (objectives). It can simply be described as long - term business planning. Typically a business strategy will cover a period of about 3 - 5 years (sometimes even longer). A business strategy is concerned with major resource issues. The corporate strategy is the overarching strategy of a company that reflects its mission and core values in its goals and underlying business strategies for achieving them. The corporate strategy provides clear direction for all the business units working in concert to meet shareholder expectations while providing value to their customers and employees. The functional strategy is the organizational plan for human resources, marketing, research and specific industry and is used to back up other corporate and business strategies.