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Features of Strategy

Strategy has the following gestures:

1. It is generally long-run in nature. It discounts the future to analyse its impact on present activities. However, strategies can be made for shorter periods also.

2. The effectiveness of a strategy cannot be known in near future. Non-achievement of goals in the immediate future should not render the strategies ineffective

3. It is and action plan and more specific than objectives.

4. It is a single-use plan made for non-repetitive activities.

5. It is formulated by top level managers and provides a guide for middle and lower-level managers to make sub-strategies.

6. It coordinates organization’s internal environment with its external environment.

7. It allocates scarce organizational resources over different areas for their optimum utilisation.

8. It enables the firm to compete with competitors.

9. It is pervasive and required at each level in each functional area.

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