Characteristics of Strategy

A strategy is characterized by various features which have been presented as follows.

1. Long range
Strategy is generally long range in nature though it is valid for short range as well. It provides
long range scope and direction to an organization.
2. Action oriented
Strategy is action oriented and more specific than objectives. It is a road map for future
actions for every organization. Hence, it is action oriented.
3. Goal oriented
Strategy is for achieving organisation long term objective of growth, profitability and
sustainability.
4. Flexible and Dynamic
Strategy is flexible and dynamic. The change necessitated by the change in environmental
factors and influences can be accommodated in the strategy. It is flexible enough to respond
the changes in the environmental forces.
5. Value Addition
Strategy aims at adding value. The effective and efficient implementation of appropriate
strategy leads to efficient utilization of resources, improvement in productivity with better
quality and better market performance in terms of customer satisfaction.
6. Purposeful
Strategy is for making organisation ready to cope to a competitive and complex business
environment successfully.
7. Strategic Decisions
Strategy is based on strategic decisions. Such decisions define scope of organisation activities.
They define products and services. They allocate resources and pinpoint organizational
capabilities.
8. Stakeholder Expectations
Strategy fulfills the values and expectations of stakeholders of an organisation who have
interest in the performance of the organisation.