(Definition) Strategic Plan is a plan that describes how to marshal and determine actions to support the mission, goals and objectives of an organization. It generally includes an organization’s explicit mission, goals and objectives and the specific actions needed to achieve those goals and objectives.
The supply chain strategy is a complex and evolving means that organizations use to distinguish themselves in the competitive content to create value for their customers and investors.
Many organizations now also use mission and vision statements to give clarity to their purpose.
All the strategies are linked and dependent.
(Definition) Business Strategy is a plan for choosing how to compete. Three generic business strategies are:
- Least Cost
(Definition) Organizational Strategy of an enterprise which identifies how a company will function in its environment. The strategy specifies how to satisfy customers, how to grow business, how to compete in its environment, how to manage the organization and develop capabilities within the business and how to achieve financial objectives.
Supply Chain Strategy is then a strategy for how the supply chain will function in its environment to meet the goals of the organization’s business and organization strategies.
Competitive Advantages are closely related to business strategy because they outline the advantages the organization should realize once it has decided how it will compete.