Strategy According to the Cambridge dictionary, strategy is a detailed plan for achieving success in situations such as war, politics, business, industry, or sport, or the skill of planning for such situations However, in accounting business analysis, the strategy encompasses the top managements plan to attain outcomes consistent with the organisatoins mission and goals There are few alternatives approaches to traditional strategies, such as emergent, incrementalism, and freewheeling opportunism Emergent strategy is the view that strategy emerges over time as rudiments develop and strategy proceeds, and accommodate, changing reality and continuously adapting to human needs According to Henry Mintzberg, an emergent strategy is a set of actions, or behaviour, consistent over time, a realised pattern that was not expressly intended in the original planning of strategy The term emergent strategy implies that an organisation is learning what works in practice It takes on a decentralised approach, an informal and bottomup approach this is especially true where organisations face a turbulent, fastchanging environment they may need to respond to events and information more quickly than a formal strategic planning cycle It may reflect organisational systems and routines that enable the organisation to respond quickly and flexibly to threats and opportunities A planned and emergent strategy may also coexist Emergent strategy and intended strategy both affect the organisational resource allocation process The pattern of actions that emerges is the basic strategy of the organisation The emergent strategy itself implies learning what workstaking on one action at a time, searching for that practical outline or consistency Notably, the emergent strategy does not mean chaos, but unintended order It is also how frequently and deliberate strategies change With emergent strategy, it does not have to mean that management is out of control, but flexible and responsive in other words, emergent strategy enables management that cannot be close enough to a situation, or to know enough about the varied activities of its organisation, to surrender control to those who have the information current, and detailed enough to shape realistic strategies Whereas the more deliberate strategies tend to emphasise central direction and hierarchy, the more emergent ones open the way for collective action and convergent behaviour