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Three Basic Definition of strategy or corporate strategy

Strategy is generally used for long term, but this is also relevant in medium term and short term.  

Definition 1 

We may define the term ‘strategy’ as long range blueprint of organization’s desired image, direction and destination, i.e. what it wants to be, What it wants to do and Where it wants to go.

Definition 2

Strategy is a unified, comprehensive and integrated plan, designed to assure that the basic objectives of the enterprise are achieved.

Definition 3

Corporate strategy is a long term plan for executing ideas into action. Strategy is required for short term, medium term as well as long term. It is rightly said by Joel Ross and Michael Kami, “Without Strategy, an organization is like a ship without a rudder”. 

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