What is strategy?

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CIMA Management level Project & Relationship Management (Strategy) Mind Map on What is strategy?, created by wightrose on 25/04/2015.
wightrose
Mind Map by wightrose, updated more than 1 year ago
wightrose
Created by wightrose almost 9 years ago
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Resource summary

What is strategy?
  1. A course of action, including the specification of resources required, to achieve a specific objective
    1. Concerned with
      1. purpose and long term direction
        1. scope of organisations' activities
          1. meeting challenges from external environment
            1. effective use of internal resources
              1. delivering value to those who depend on the organisation
              2. Strategic management considers
                1. scope of business activities
                  1. matching activities to capabilities
                    1. allocation of resources
                      1. operational decisions which follow
                        1. values and expectations of senior management
                          1. long-term direction
                            1. change in the business
                            2. Mintzberg: 5 Ps of Strategy
                              1. Plan
                                1. Provide direction
                                2. Pattern
                                  1. consistent
                                  2. Ploy
                                    1. tactic to deter/confuse competition
                                    2. Postition
                                      1. where organisation places itself within market or environment
                                      2. Perspective
                                        1. perception of environment and interpreting the information from it
                                      3. Strategic levels
                                        1. Corporate
                                          1. Purpose and scope
                                          2. Business
                                            1. approach to market
                                            2. Functional
                                              1. long term management policies
                                            3. Strategic areas
                                              1. Financial
                                                1. capital structure, dividend policy
                                                2. Investment
                                                  1. use of capital to provide strategically valuable resources
                                                  2. Competitive
                                                    1. how the business out-performs rivals
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