explain why the definition organizational strategy would fit best
The definition of organizational strategy refers to the long-term plan that an organization pursues to achieve its goals and objectives. It involves making decisions and allocating resources that guide the organization's activities and set it apart from competitors.
This definition fits best because it encompasses several key aspects:
1. Long-term plan: Organizational strategy is not a short-term tactic or a quick fix but rather a well-thought-out plan designed to achieve the organization's long-term vision. It involves setting clear goals and objectives that have a time horizon of several years.
2. Goal-oriented: Organizational strategy is focused on achieving specific targets and objectives. It aligns the efforts of various departments and individuals towards a common purpose, avoiding conflicts and ensuring harmony.
3. Decision-making and resource allocation: Organizational strategy requires making informed decisions about which markets to enter, which products or services to offer, and how to allocate resources effectively. This involves analyzing internal and external factors and selecting the best course of action.
4. Competitive advantage: Strategy distinguishes an organization from its competitors. It involves identifying unique selling propositions and finding ways to outperform rivals. Organizational strategy helps the organization to exploit opportunities in the market and mitigate risks.
5. Sustainability: The focus of organizational strategy is not only on short-term success but also on sustained performance over time. It involves assessing the external environment, adapting to changes, and staying ahead of the competition to ensure long-term viability and growth.
Overall, the definition of organizational strategy captures the essence of strategic planning and management, recognizing its importance in guiding the organization towards its desired future state.