Vishakha Nara

2016122

Strategies are used in various stages of life, right from as small as taking an exam to as big as
fighting a war. Strategies vary from person to person and each person formulates a strategy that
he thinks is the best fit for achieving the targeted goal. In a competitive environment, analyzing
every aspect of others' becomes crucial to estimate their probable strategies to help improvise
our own strategy, while achieving optimum utilization of available resources at the same time.
Therefore, a strategy consists of a proposed approach that is usually carefully planned
considering the environment and other factors, to attain a goal. In short, a strategy defines how
we will achieve our goals.

Taking up an example from my personal life, I am a district-level badminton player and strategy
plays a significant role during the game. The strategy used to compete against each opponent is
different; also the strategy might change with course of time, as the game proceeds. Therefore,
a strategy not only involves gathering information (assessing weak points and strengths of
opponent) but we also need to keep adjusting it with the changes in the situation. Strategy is
dynamic in todays ever-changing world as it needs to be open to opportunities and threats. Also
from a business perspective, a strategy should be such that it cannot be replicated by
comeptitiors and utilizes the strengths of the company to produce the overall goal at an optimal
cost.