Strategy is the set of planning to achieve the long-term goal.

Though the term originated from the military, it is now the core term of the business. Every business organization set its own strategy to formulate the business objective in the course of operation. Strategy is the game plan for running the business successfully through setting performance target, articulating the process, and strengthening competitive advantage. The main process of the strategic management is: Develop mission and vision Setting objective Setting the process to achieve objective Implementing and executing strategy Evaluating and monitoring

The role of the strategic business varies from business to business depending on its business type and nature. For instance, Nokia's strategy is to keep people connected through providing communication device. To attain the strategy Nokia is consistently driving the research and development to providing technologically advanced device within customers buying power. As a public body the City of London authority is committed to maintaining and enhancing the status of the business City as the world's leading international financial and business centre. To achieve the goal, the authority is pursuing different policies and procedures through its different councils and other associate bodies. The strategy of Red Cross is to improve the quality of human life, to enhance self reliance and concern for others through helping people in emergency. As a not-forprofit organization Red Cross is operating in most of the countries to serve the people of in different needs of emergency. Strategic management is the total game-plan to achieve the business goal. The strategic process consists of analysis, decisions, and actions. In practical these processes are the combination of strategy analysis, strategy formulation, and strategy implementation. A customer oriented company focuses on the product and service quality together with highest customer satisfaction. A high-tech company focuses on the research and development to develop more advanced product to outperform the competitors. The long-term goal of the organization set the strategic process and the way to achieve it. Analysing the current trend of the business and competitors move the mission statement is set for the organisation. Depending on the course of business the planning is set and changed over the time. The process and procedure are evaluated in frequent interval to adjust any strategic gap. In the implementation process the deliverables are compared with the planned outcome and practical outcome. In this way the gaps are overcome by adding associated work plan.

Dess, G. G., Lumpkin, G.T. & Taylor, M. L., 2004. Strategic Management. 2 ed. New York: McGraw-Hill Irwin. Dobson, P., Starkey, K. & Richards, J., 2004. Strategic Management: issues and cases. 2nd ed. USA: Blakwell publishing.