Strategy
Strategy sets the organisation’s direction and choices about how to achieve its objectives and create value in its environment. It involves trade-offs, positioning, resources and capabilities rather than merely a numerical target. Plans, measures and incentives should support those choices while allowing learning when conditions change. A stated strategy can differ from the pattern of decisions actually made, so evaluate implementation and behaviour as well as the written statement.
Worked example
A repair business chooses reliable rapid service for specialist customers rather than lowest price for everyone, affecting staffing, capacity and performance measures.
Common mistake
Growth, profit or survival is an objective, not by itself an explanation of how the organisation will achieve it.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | APM | Direct | September 2026–June 2027 |
| ACCA | MA | Direct | September 2026–June 2027 |
| ACCA | PM | Direct | September 2026–June 2027 |
| FIA | FMA | Direct | September 2026–June 2027 |
