strategy is a plan of action designed to achieve a particular goal. The word strategy has military connotations, because it derives from the Greek word for general.[1]
Strategy is different from tactics. In military terms, tactics is concerned with the conduct of an engagement while strategy is concerned with how different engagements are linked. In other words, how a battle is fought is a matter of tactics: the terms that it is fought on and whether it should be fought at all is a matter of strategy.
trategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Various business analysis techniques can be used in strategic planning, including SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats ) and PEST analysis (Political, Economic, Social, and Technological analysis) or STEER analysis (Socio-cultural, Technological, Economic, Ecological, and Regulatory factors) and EPISTEL (Environment, Political, Informatic, Social, Technological, Economic and Legal).
2. illustrates how information system give a competitive advantage
formation technology provides a platform for a company to connect the global world with Internet. Internet has a wide range of customers, buyers, service providers, technical staff, etc. with the help of Internet business can run on a single website like General Electric company in our book case study at page no 5
Information system and technology provide various channels to communication like E-mail, Instant messages, SMS servers, etc to all employees at any time all over the world. This type of software helps to saving time and cost. Of the company
3. identify the basic initiatives gaining a competitive advantage?
Present economic challenges aside, there is another crisis looming in the business sector that may not be as easily seen. And may, to some, seem secondary given the current focus on basic survival: the long-term sustainability of a business as the retiring baby-boomer generation leaves an increasingly
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