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What is strategy and why it is important?!
You can reed a very article on how to understand strategy titled:
What Is Strategy?
It is possible to define strategy as a plan of action to achieve short, middle and long term desired goals. Depending on the context, strategy meaning can change drastically. This strategy definition is not only applicable to business performance, but also in other fields.
There are generally three hierarchical types of strategies in business. The corporate strategy defines the strategic goals of the overall company. The second type of strategy, the business strategy, establishes the strategic goals for a business unit. Functional strategies are the third type of strategy. A functional strategy is about the strategic goals to achieve the business goals, and to keep developing the functional area itself.
In business, it is possible to define strategy as a plan of action to achieve improvement goals in several aspects of an organization or company. Strategy can be used to for example improve profits, customer satisfaction and efficiency. In this use, strategy meaning a plan for improvement can be viewed. This shows that strategy is a versatile concept, even in the sole area of business.
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