According to Markides (1999) There is surprisingly little agreement on what strategy really is. Critically analyse this statement with reference to the many different definitions of strategy - Essay Example is report aims at understanding the various definitions that have been set down by the various authors in the past and to analyse whether the statement by Markides (1999) has significance in the true sense. The following section will deal with the various definitions that have been developed over the years. Strategy includes a number of different aspects that it is associated with. Firstly, a strategy is normally long planned. This is in a hierarchical system of goals and objectives. A strategy is a combined effort to create a blend between the external environment, internal resources and the capabilities of the resources within the business (Bernus, et.al, 2003). â€œStrategy is the direction and scope of an organisation 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.â€ (Johnson, Scholes & Whittington, 2006, p. 9) According to Johnson et.al, (2006), there are six major elements that strategic decisions are made out off. It is essential to understand that strategic decisions are normally long term directions of organisations, which include the scope of the organisation. Also this includes to a great extent gaining advantage over the competitors and addresses the changes that happen within the business environment. Strategies that are developed, try to develop the resources and try to improve the capabilities of the people within the organisation. These strategies are also expected to be based on the values and expectations of the stakeholder. There are a few different schools of the thoughts for the views of strategy. Each of the views of thought has been over the years from 1960s until now. The 1960s and the early 1970s, saw the school of thought where the strategies were expected to be systematic and with analytical approach. Following which the change in the need for strategy, this period aimed at having strategies which are more
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