Origin of the Word Strategy - Essay Example

The word strategy has been used differently in different contexts to bring out different meaning. Strategy can be defined as a plan put in place to achieve its goals and objectives (Thoughtful posterous); however, other people use the word strategy to mean mitigation, prediction and preferred ways of attaining goals and objectives. In the business context, it can be used to describe the aims of a business and its ways of succeeding in a market against its competitors. A business should, therefore, have separate and attractive competitive strategies that cope with the challenging environment and they should meet the needs of customers.

What it should do to be better than its competitors, what resources should it use, what are the main challenges that the business will face in the market and what are the expectations of those around them (Riley)? In conclusion, a strategy is the exact implementation of the plan and not the preventive measures or judgments of the plan and should be followed strictly in every business.