Strategy:

Its considered in the business as a method or plan chosen to bring

about a desired future, such as achievement of a goal or solution to a
problem.
Second definition: the art and science of planning and marshalling
resources for their most efficient and effective use. The term is derived
from the Greek word for generalship or leading an army.
Strategic management :
Its the management of an organizations resources to achieve its
goals and objectives. It involves setting objectives, analyzing the
competitive environment, analyzing the internal organization, evaluating
strategies and ensuring that management rolls out the strategies across
the organization. At its heart, strategic management involves identifying
how the organization stacks up compared to its competitors and
recognizing opportunities and threats facing an organization, whether they
come from within the organization or from competitors.
Approaches to strategy:
There are two main approaches to strategic management:

The Organizational Approach

based on economic theory

deals with issues
competitiveness, resource allocation, economies of scale

assumptions rationality, self-discipline behavior, profit

maximization.

like

The Sociological Approach

deals primarily with human interactions

assumptions bounded rationality, satisfying behavior, profit

sub-optimality. An example of a company that currently
operates this way is Google.
Strategic management process:

It is composed of 5 stages which are:

Goal-Setting
Analysis
Strategy Formulation
Strategy Implementation
Evaluation and Control

Elements of strategy:
Element 1: Power Distribution

Power distribution dictates who's involved, how much information each

individual can access, and the decision-making process.
Element 2: Decision making

The way that decisions are made in organizations determines how ideas
are generated and which ideas are considered. The way decisions are
made influences how these ideas are carried out later.
Element 3: Idea Generation

How ideas are generated affects the quantity and quality of these ideas,
which directly affects the number of viable strategy options.
Element 4: Process

Process is the way that ideas are handled and consumed within
organizations. Process defines the way that agreements and commitments
are made and managed, and how well people understand what is
happening and what to do.
Element 5: People

In an organization of any size, people bring their domain knowledge,

talents, and perspectives to strategy creation. Often people are viewed as
the first point of strategy failure, but they are actually the last point of
failure in a long series of cascading interactions.
Business strategy:
A business strategy is the means by which it sets out to achieve its desired
ends (objectives). It can simply be described as a long-term business
planning. Typically a business strategy will cover a period of about 3-5
years (sometimes even longer).
Strategic planning

Is an organization's process of defining its strategy, or direction, and

making decisions on allocating its resources to pursue this strategy. It may
also extend to control mechanisms for guiding the implementation of the
strategy.
Business Plan :
A business plan is a written document that describes in detail how a
business, usually a new one, is going to achieve its goals. A business plan
lays out a written plan from a marketing, financial and operational
viewpoint. Sometimes, a business plan is prepared for an established
business that is moving in a new direction.
The strategic management model:
The strategic management model identifies concepts of strategy and the
elements necessary for development of a strategy enabling the
organization to satisfy its mission. Historically, a number of frameworks
and models have been advanced which propose different normative
approaches to strategy determination. However, a review of the major
strategic management models indicates that they all include the following
elements:
1. Performing an environmental analysis.
2. Establishing organizational direction.
3. Formulating organizational strategy.
4. Implementing organizational strategy.
5. Evaluating and controlling strategy.
The aims of a case study:
The aims of a case study are different depending to its type

The purpose of an explanatory case study is to better show the data

and description of a casual investigation.
Collective case studys purpose is to show the detail of how a group
of individuals in a manner that shows all the data concisely.
The purpose of a descriptive case study is to be able to compare the
new gatherings to the preexisting theory.
An exploratory case study is used to give more background
information than usual case studies, to better compare results, and
to allow for the researchers to dedicate more time into studying the
information needed for their experiment or case.
Intrinsic case studies are based in the researchers personal interest
or curiosities. It serves the purpose of allowing a researcher to freely
learn or study what they please.

An instrumental case studys purpose allows for researchers to try to

understand the science behind an experiment or case.