• Strategy is a high level plan to achieve one or more goals under conditions of uncertainty, often when resources are limited.
  • Strategy generally involves:
    • setting goals,
    • determining actions to achieve the goals, and
    • mobilizing resources to execute the actions.
  • A strategy describes how the ends (goals) will be achieved by the means (resources).

The senior leadership of an organization is generally tasked with determining strategy. Strategy can be intended or can emerge as a pattern of activity as the organization adapts to its environment or competes. It involves activities such as strategic planning and strategic thinking.