Management strategies, at their most boiled down, are a series of techniques for controlling and directing a business to achieve a set of predetermined goals. They include strategies for goal-setting, leadership, business administration and operational activities.
Management strategies exist because, in the long-run, organizations can only achieve top performance if they have a clear strategy in place and the strategy is anchored throughout the company. Otherwise, the ship would be driving forward with no clear direction, potentially toward the iceberg. A strategy lays the foundation for successAnything that a manager does, or consciously chooses not to do, to achieve the organization's goals is a strategy. It provides the blueprint for what the organization will do, what type of business it wants to be, how it will make decisions, how it will optimize its strengths and reduce the impact of its weaknesses and how it will behave toward its customers, employees and stakeholders, among other things.
Within this broad definition, there are three features that all management strategies have in common. First, a strategy will deal with long-term objectives rather than one-time or routine incidents. For example, problem-management strategies will devise ways to investigate and fix the root cause of problems so the business can improve its performance over time, rather than just troubleshooting individual problems as they arise. Second, a strategy will provide a clear road map for getting the company from where it is now to where it wants to the future – there must be a clear connection between the strategy and its intended objective.