Organizational strategy is a dynamic long-term plan that maps the route towards the realisation of a company’s goals and vision.”
You can also look at the video below for an alternate explanation of ORGANISATIONAL STRATEGY
The Strategic Planning Process
In today’s highly competitive business environment, budget-oriented planning or forecast-based planning methods are insufficient for a large corporation to survive and prosper. The firm must engage in strategic planning that clearly defines objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track.
A simplified view of the strategic planning process is shown by the following diagram:-
THE STRATEGIC PLANNING PROCESS
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