Advertisements play an important role
in the common man's life. In the present scenario, businesses
the world over are facing stiff competition, wherein to
survive and be successful, traditional thinking accompanied
by creativity is essential. The article discusses one dimension
of strategy i.e., creativity to give an idea about the
importance of strategic thinking in the changing environment.
Creativity as a strategy can be applicable in business
organizations including the service sector, especially
the educational institutes.
Strategic management, as a discipline,
has four major corporate strategy frameworks. They are:
SWOT in the 60s, Strategic-planning Matrix in the 70s,
Competitiveness in the 80s and the Core Competency in the
90s (Karki, 2004). Strategy basically determines the long-term
goals and objectives of any organization. This is necessary
so as to have a proper plan about the strategic management
process and its effective implementation. According to
Alfred D Chandler, strategy is defined as "The determination
of the basic long-term goals and objectives of an enterprise
and the adoption of the courses of action and the allocation
of resources necessary for carrying out these goals" (Rao,
2004). Strategy is one of the important elements of the
policy of any organization, be it a business organization
or a service organization. It is very important to have
an effective strategy, which should be clear and flexible
so as to adapt to the changing times. |
