QS Study

Crafting a Strategy to achieve the desired outcomes. Strategy-making brings into play the critical managerial issue of how to achieve the targeted results in light of the organization’s situation and prospects.

Strategy means the skill of managing any affair. It is used to describe a pathway along which the organization moves towards its goals or objectives. Actually, it is an action plan for maximizes one’s strength against the forces at work in the business environment. Crafting strategy is the procedure of strategy expansion, and how strategies get complete. Strategic management analyzes the major initiatives taken by a company’s top management on behalf of owners, involving resources and performance in internal and external environments.

According to Henry Mintzberg, managers are craftsmen and strategy is their clay. He doesn’t say that they cannot be formulated but formulated strategies can lead to unrealized strategies – bad or good.

  • There is no such thing as a solely emergent or planned strategy – all strategy walks on two feed one emergent one deliberate
  • An innovation of market imperatives can cause submerged strategies in the org to come to the surface
  • Managing strategy is not so much promoting change but knowing when to do it
  • Knowledge is to intellectual or analytical or from abstracted facts its more to do with wisdom.