Is there any difference between these two words "strategy" and "strategic"?
Can you please elaborate the difference between below two questions?
1. What does human capital strategy means?
2. What is strategic human capital?
Dear Zeeshan,
Definition of strategy: A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.
Definition of strategic: Decisions or plans designed to impact favorably the key factors on which the desired outcome of an organization, game, system, venture... etc.
In another word
Strategy describes how the ends (goals) will be achieved by the means (resources). To do so, it has to involves activities such as strategic planning and strategic thinking
Dear Zeeshan,
Definition of strategy: A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.
Definition of strategic: Decisions or plans designed to impact favorably the key factors on which the desired outcome of an organization, game, system, venture... etc.
In another word
Strategy describes how the ends (goals) will be achieved by the means (resources). To do so, it has to involves activities such as strategic planning and strategic thinking
Dear @Zeeshan, please find chapter attached "The Essence of Strategy and Strategic Management"! I wonder what do you think about this approach! I like it! For example, 5P of strategy!
strategy:(*&**)
*A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.
**The art and science of planning and marshalling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army.
Read more: http://www.businessdictionary.com/definition/strategy.html#ixzz37yqP9e3b
strategic:(***)
***Decisions or plans designed to impact favorably the key factors on which the desired outcome of an organization, game, system, venture, or war, depends.
Read more: http://www.businessdictionary.com/definition/strategic.html#ixzz37yr1BSv2
Strategy is alternative ways and means of acheving objectives.
Strategic refers to selecting the best strategic decision for acheiving the objectives.
E.g. to increase sale, a company follows strategies such as advertisement, sales promotion
strategic is advertisement cost 10000 dollar. sales promotion consumes 12000 dollar. strategic decision is to select the cheaper one.
Strategy, is an over all plan to achieve an objective.
"Strategic" is everything that refers to a strategy.
I agree with the Prof. Costas Drossos's answer as follows:
Strategy, is an over all plan to achieve an objective.
"Strategic" is everything that refers to a strategy.
@Ljubomir I downloaded the said chapter and I will be reading I hope further we will discuss it here!
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