ABSTRACT
The concept of business strategy evolved from millennia of military procedures (e.g., objective: capture town X; strategic alternatives: precision artillery shelling, massive air bombardment and cut off supplies). While the objectives of many companies may be very similar, the strategy for achieving them will often be the differentiating factors which lead to the success of one and the mediocrity or downfall of another. The strategy of Wal-Mart, based on lowest price to the consumer, defeated the Kmart strategy, based on broader product selection. Strategic directions within a company must be assigned clear priorities for allocation of limited resources and maintaining a sense of continuity. First, examines the implementation of programs and make necessary corrections. Second, reexamines the strategy and modify, if necessary. Third and always last, reevaluates the objectives as to their feasibility under the new external conditions. Change in objectives must be the last step in management’s orderly review, but it may be a very necessary action.
