1. Chandler's definition
1.1. he determination of the long-term goals and objectives of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out those goals
2. Elements ( or components)
2.1. Determine the objectives
2.1.1. OPEN
2.1.1.1. Stated in qualitative terms, general in form and timescale
2.1.2. CLOSE
2.1.2.1. Stated in qualitative terms, general in form and timescale
2.1.3. MISSION
2.1.3.1. An organization's mission describes what the organization does
2.1.4. VISION
2.1.4.1. An organization's vision sets out some desired future state; it articulates, often in bold terms, what the company would like to achieve
2.1.5. VALUES
2.1.5.1. An organization's values state how managers and employees should conduct them selves, how they should do business and what kind of organization they should build to help the organization achieve mission
2.2. Actions
2.3. Allocation of resources
2.3.1. FINANCIAL RESOURCES
2.3.1.1. Money for capital investment and working capital. Sources indule share holders, banks, bondholders, etc
2.3.2. HUMAN RESOURCES
2.3.2.1. Appropriately skilled employees to add value in operations and to support those that add value. Sources indule the labour markets for the appropriate skill levels required by the organization
2.3.3. PHYSICAL (TANGIBLE) RESOURCES
2.3.3.1. Land, buildings, plant, equipment, stock forr production, transport equipment,etc
2.3.4. INTELLECTUAL (INTANGIBLE) RESOURCES
2.3.4.1. Inputs that cannot be seen or felt but which are essential for continuing business success, for example "know-how", legally defensible patents and licences, brand name, logos,..etc
3. Mintzberg's five Ps
3.1. A plan
3.1.1. A plan is probably the way which most people use the word strategy
3.2. A ploy
3.2.1. A ploy is generally taken to mean a short-term strategy, and it concerned with the detailed tactical actions that will be taken
3.3. A pattern of behaviour
3.3.1. A pattern of behavior strategy is one in which progress is made by adopting a consistent form of behaviour
3.4. Perspective
3.4.1. Perspective strategy are about changing the culture ( the belief and the feel )