strategy definition

What mean for below strategy definition?

The direction and scope of an organization over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations (Johnson et al, 2005)

1 Answer

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  • Mick
    Lv 7
    10 years ago
    Favorite Answer

    Let us split this definition into smaller phrases.

    the direction and scope of an organization over the long term

    = long term strategy of the organisation

    which achieves advantage in a changing environment

    = achieves competitive advantage

    through its configuration of resources and competences

    = by making good use of its resources and competences

    with the aim of fulfilling stakeholder expectations

    = satisfying stakeholder expectations

    Therefore, the definition means:

    The organisation considers its resources and competences and makes long tem strategies to achieve competitive advantages and satisfy stakeholder expectations.

    Johnson et al. 2005 means this was written by Johnson and his colleagues in 2005

    .

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