Strategy

A description of the value offered to its stakeholders, and the approaches in which the firm plans to deliver in order to achieve its strategic objectives.
Strategies answer the broad question “What approach(es) should we pursue to get the result we want?”

Why have a strategy?

An effective Organization Strategy will ensure:

Direction: a clear manifestation of where you want to be, how and when.
Measurability: The ability to measure your organization’s progress in achieving its vision.
Specificity: Well defined and clearly stated objectives and targets for the whole organization.
Alignment: All employees have objectives leading in the same direction.
Control: Easily measures Business / Line / Department and Employee Performance.
Ownership: Strategy comes from within the organization, so every one is an owner of their strategy.