Various definitions of strategy have been offered over the years, however, at a basic level strategy is simply closing the gap between where you are now to where you want to be.
Developing a strategy may require a business to consider:
- How did your organisation reach the position it is in today?
- Why is it producing the particular products it does?
- Why does it serve the markets it does?
- Why is it structured and organised in a particular way?
- What is your organisation’s current strategic position?
- Do its goals and objectives reflect a desirable future position?
In any case, the development of a strategy will be viewed as what the “leaders” have planned to achieve in the future. The strategy process requires formulation followed by implementation.
But does this happen in reality? Research has shown that in many organisations the intended strategies do not become realised or only a part of what is intended comes to fruition. This is illustrated on the page Strategy Formulation.