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Strategy Definition and Explanation PDF | Download eBooks

Learn Strategy definition in supply chain management with explanation to study “What is Strategy”. Study strategy explanation with SCM terms to review supply chain management course for online MBA programs.

Strategy Definition:

Strategy Explanation:

Organizations make strategies to achieve their missions and objectives. It mainly involves the goal setting, and then takes corrective actions to achieve those goals with the availability of limited resources and limited time span. Making strategies are important because the limited availability of resources (means) to achieve goals (ends). Strategies can be made according to the environment because if the strategy is too high-fig. It creates hurdles in meeting targets. So the organizations must examine the internal as well as external environment and then make strategies. It involves the strategic thinking and strategic planning to sustain in the market.

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