Fundamental Elements of the Strategy Concept

Abstract

This chapter answerers and elaborates on the question of “what is strategy” which has been controversial in the discipline of strategic management over the past half a century. On the basis of proposing the “problem-oriented strategy” and “goal-oriented strategy”, the theory of three elements of the strategy concept is put forward, and is introduced in detail. The chapter suggests that the lack of any element of the three cannot constitute a complete strategy. A strategy without “development goal” is undirected and one that cannot identify “development problem” is confusing, while one without a “guideline” is unrealistic. The chapter also discusses the integrated relationship among the three elements.