so what is this strategy all about???

Here in this section i will try to explore what is this buzz word strategy and what is the hoopla all about....  

 An integrated and coordinated set of commitments & actions designed to exploit FIRM’S competencies and gains and gain a competitive advantage. 

 Strategy is about bringing the organization is the “best possible position”    To address  the customer demands in the best possible way by a firm.   

All said and done, with this, the hoopla was created, ok have a strategy and we will be best, 
we forgot one thing.. We have to implement that organization wide.   

A strategy focused organization generally implements theory into practical through these five broad steps , which were proposed by Prof. Kaplan and Prof. Norton.   

these steps are  

 1. mobilize change in your organization through executive leadership and prepare    everybody by gathering their support and enthusiasm for the better .  

 2. Translate strategy into operational and measurable terms, so that control can be implemented.  

 3. Align your organization to the strategy.  

 4. Motivate your employees to make strategy an everybody's job. 

 5. Govern to make strategy a continual process.    

If we talk in the terms of process the entire process can be summarized with following 6 word chain    Translate strategy--manage initiatives--align organization--communicate--review--update.