The direction the organization is headed in to be able to adapt to a changing environment

Presentation 02_Strategy

What is Strategy?:

In a nutshell…

Strategy is the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals
Alfred Chandler

What is Strategic planning?:
In a nutshell…
Strategic planning is:

an organization’s process of defining:

• its strategy, or direction, and making decisions on:
  allocating its resources to pursue this strategy.
• Ιt is here that priorities are set.
• It may also extend to control mechanisms for guiding the implementation of the strategy.

Source: https://en.wikipedia.org/wiki/Strategic_planning

So, how does strategy connect to the mission statement?

The organization’s strategy uses the mission statement as a guideline in order to:

• define a set of goals and objectives.
• plan the steps needed to be followed in order to achieve said goals and objectives
• decide on the allocation of resources that will be used in order to achieve said goals and objectives