In this course, the term strategy has been defined as well as major terms in its vocabulary: mission, vision, aims and objectives. Drawing on Mintzberg (1996), it showed that strategy may be conceived of as a composite of five interrelated facets, namely, plan, ploy, pattern, position and perspective.
Thinking about strategy is clearly a lot more complicated and challenging than merely mastering a set of formulae or analytical tools, which can be applied in order to guarantee success. Instead, one of the interesting things about strategy is that it generates so many controversial questions, which require us to synthesise our other areas of knowledge and expertise, and acknowledge our particular standpoints and situations. What academics and practitioners argue as being appropriate strategy has a lot to do with their convictions about how the world works and what they see as important.