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Defining Strategy

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Submitted By yashnaudiyal
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Defining Strategy

Submitted by-
Maj Yash Vardhan Naudiyal
Roll No – 35, NMP XXIII

Strategy
The Need for strategy
“Change is the only constant” – Gautam Buddha 1. Nothing in the world is constant. Neither is the world itself constant ; its changing, and presenting itself in new forms every time we view it and try to make a sense of it. Change is a continuous processes- ‘to survive it, adapt to it’. Business is also a part of this process. The context in which the business is done keeps on changing. However constant the change, the basic assumption stands, that the needs have remained constant so far, but the means to satisfy the needs will keep on changing.

2. To survive change, businesses, individual or society needs to adapt. And to adapt, one needs as strategy. Hence, the primary function of strategy is to help us adapt to the change. Change and this adaptation to change is the surviving process. It’s a continuous function. The components of change process are interdependent. The pace of one defines the pace the other.

Strategy
“Strategy is choosing to perform activities differently than rivals do.” 3. Strategy Needs to be understood from two perspectives ie Internal and external.

These two factors when in sync, give the premise for strategic decision making. Business is nothing but the amalgamation of certain assumptions about its environment, mission and core competencies. This amalgamation defines the “what to do of the business.” The firm exists as a part of its internal and external environment. 4. The Internal and externals environment can be defined by the 4 c’s framework. the external environment serves as an input for the strategic decision making and the Internal environment ie the company’s policy, resources etc. help produce the firm the desired output. The external environment ie the competition, customer and the

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