Management strategy is a future oriented conception in which the relationship between
the industry and the environment (pattern for adapting to the environment) is described and it forms the guiding principles for the people in the industry for decision making. The four areas mentioned below in order to determine the management strategy:
Definition of Domain
Operation Portfolio
Resource Development
Competitive Strategy
The context in management strategy is organization context, industry context and
international context. The industry context is the context of industry with the competitors in the industry. The international Context in the management strategy is the internationalisation of an enterprise widens the horizons for activities on various fronts like sales, procurement, production, developments and other operation activities across the country barriers. It provides a wider market and activity areas for any enterprise. For example, in the case of an automobile plant of Honda, which has been operating in America, it can be called as the internationalisation of the plant, which forms the base for the production activities. The reasons responsible for the birth of internationalization are the harmonization with international political system, harmonization with international economic system and the improvement of the efficiency of international management Comment: in the context of the management strategy is very important to be studied by managers because it can make the industry more competitive advantage with industry competitors in the domestic and international. Question: how to maximize resources to grow the business use industrial context in management strategy ? Sources:
Petrash, G., (1996), Dows Journey to a Knowledge Value Management