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All organizations utilize strategies in order to boost performance, reduce costs, and gain competitive advantage. Yet Khalifa (2020) contends that in reality, most organizations do not correctly understand the definition of the term strategy, and therefore may in fact be failing to optimize their processes. To this end, strategy can be seen in many forms as a catchall term which is largely over used and misused across industries. Khalifa (2020) has identified four challenges faced when attempting to redefine, or better define, the term strategy:
the overly stretched meaning of the term strategy, which has resulted in a poorly understood, diluted term that fails to benefit those that seek to use it;
looking to past events and processes to find a pattern upon which to base strategy, which can create an incomplete understanding as to what a strategy actually is;
assuming that strategies exist by default leads to erroneous assumptions about the focus, drive, and direction of an organization; and
and incorrectly labeling a list of objectives, initiatives, or aims, as a strategy can lead to a failure to capitalize on opportunities.
Helping define strategy
Khalifa (2020) indicates that the ends-ways-means connection is an important tool with which to attempt to better define strategy. When considering strategy, an organization should...