What is the definition of strategy in business?

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Dictionary definitions of strategy in business tend to highlight it in words of a military context, such as; "the science of forming and carrying out projects of military operations, generalship", but also add "finesse in carrying out any project".

In management words, to paraphrase Koontz and O'Donnell, they describe it as "a decision about how to use available resources to secure a major objective in the face of possible obstructions……such as competitors, public opinion, legal status, taboos, and similar forces".

Strategy means action as well as decision-making and interests consideration of the environment in which it uses. The word "corporate strategy" relates to the strategy applied by organizations of all types, both private and public, and of all sizes both large and small.

What is the definition of strategy in business
What is the definition of strategy in business? Image by fancycrave1 from Pixabay.

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