AN OVERVIEW OF THE TYPOLOGY OF STRATEGY

The concept of strategy has become, in the past decades, a subject of interest for researchers and practitioners due to its contribution to a company’s survival and growth. The current business environment is extremely challenging and often, to some extent, uncertain. Therefore, companies are required to adapt quickly to changes, spot opportunities and exploit them in a unique manner in order to prosper. Organizations function based on objectives, short, medium or long-term. How firms manage to achieve their stated aims depends on the designed and applied strategies, in a certain moment. Moreover, strategy may be perceived as the intended plan of actions designed to address certain company needs. Additionally, strategies come in a variety of forms and sizes. Therefore, an understanding of the existing types of strategy is required. The aim of this study is to develop an understanding of how strategies can be classified, starting for the level of aggregation of an organization. The research methodology was based on the collection and analysis of relevant secondary data for the subject. The results present the umbrella types of strategies that can be used by a company, respectively the functional, business, corporate and global strategy, in a clear and concise manner.