Strategy – from Thinking Through Planning to Strategic Management

Abstract

„Strategy” is a catchword fairly often used in contemporary reality. It is identified with the success of a given subject and is fundamentally important for its prosperity. Therefore it should be carefully studied, and then implemented in practice and improved in the course of time.

For many ages strategy was identified only with the art of war and command of an army. At the moment its meaning is much broader. Today, under the notion of strategy we understand a system of certain values by means of which a given subject recognises and evaluates its chances and threats, and according to which it takes actions that ensure the accomplishment of an intended goal.

The construction of a strategy is a combination of art and knowledge. There is not one way of its creation, although one may discriminate the so-called properties of a good strategy. It may be established, but one must „think strategically,” a foundation of strategic planning. Planning is the base on which one takes actions to the intended goal, to the strategic goal. By means of this plan we establish priorities that facilitate to make strategic decisions.

The scope of strategic management is still broader. It is defined as a complex and continuous process aimed at the formulation and implementation of effective strategies.

One may say that an effective strategy, worked out and then implemented in the process of thinking, planning, and strategic management, constitutes the effectiveness of actions and contribute to their success.