Crafting your Strategic Company/Enterprise

What is strategy ?
Management actions plan for running the business and conductiong operations.

After we know what the meaning of strategy, so we can see the function of strategy ?

1. Striving to be the industry's Low-cost provider
2. Creating defferentiation based advanteged keyed to such features as higher quality, wider product selection, added performance, value added services, more money
3. Focusing on serving the special nees and tastes of  buyers comprising narrow market niche
4. developing expertise adn resource strength that give the company competitively
5. valuable capabilities that rivals can't easily matc copy, or trump with substitute capabilities

What maskes a strategy a winner ? you must have 3 questions can be used to distinguish winning strategy from a so-so or flawed strategy :

• How well does the strategy fit the company's situation?
• Is the strategy helping the company acchieve the sustainable competitive advantage?
• is the strategy resulting in better company performance?

and the main idea to crafting and executing strategy important is :
"GOOD STRATEGY + GOOD STRATEGY EXECUTION = GOOD MANAGEMENT"

source Crafting and executing Strategy 17th edition 
McGraw-Hill International Edtion
Arthur A. Thompson, Jr.
A.J Strickland III
John E. Gamble