Abstract
In the context of the fast changing environment in today's business world, the majority of companies use a strategy to approach the future, to ensure the continuation of the company, and anticipate factors associated with the external and internal environment. In this corporate strategy context, there exist different ways to reach purposes and essential policies to achieve those goals, but if the business world is viewed as being complex, one question is fundamental: which strategy to adopt? Is there a best way? And in this view, which is the best way?
This essay is a critical analysis of the different approaches to developing strategies. To discuss if there is a best way to succeed in today's business world, on one hand, it is essential to understand what is a strategy and identify what kinds of different ways exist. On the other hand, Chandler (1962) defines the strategy like this: 'It's the determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals.' On this based-view, there are two main approaches.
