ABSTRACT
This chapter discusses understanding of, and ability to assess strategies in world where adaptability and creativity drive business success. It details strategy and strategic management and focuses on the strategy levels from the Chief executive officer and stakeholder perspectives. The chapter aims to distinguish between strong and weak vision, mission and objectives and explains some of the various perspectives of strategy. It examines some insights into the strategy consulting profession and considers strategy terminology; vision, mission and objectives; perspectives of strategy; the strategy consulting profession. The chapter shows some of the salient strategy terminology and some of its challenges facing academics and practitioners. The terms strategy and strategic management, although not synonymous, are often treated as such. A corporate level strategy determines the goals of the organisation and creates appropriate structure and processes. Functional level strategy creates the action plans to achieve objectives as outlined in the corporate and business strategies.
