3. Develop your own definition of strategy that also embraces your understanding of operations management. Strategy is the long-term direction of the organization (Johnson et al., 2014).

Corporate strategy can be described as the identification of the purpose of the organization and the plans and actions to achieve this purpose (Lynch, 2011).

Strategies are means to ends, and these ends concern the purpose and objectives of the organization. They are the things that businesses do, the paths they follow, and the decisions they take, in order to reach certain points and levels of success (Thompson and Martin, 2010).