Prior to the 1940s, strategy was identified as chiefly an affair for the military. The past of the Military is filled with stories on the subject of strategy. The term strategy is derived from the combination of Greek words: strategia, generalship, which then entered into the English language as strategies in the year 1688. “Strategy” evolution can be drawn back in 500 BC as Sun Tzu’s The Art of War. In accordance to James’ Dictionary, “strategy” is different from tactics that are instantaneous measures in front of sight of an enemy.
In the 1960s, the evolution of “strategy” started, while an outbreak of commanding contents hastily transformed the strategic management from a problem of obscure studious interest into an essential issue for general managers. The strategic management comes from the early 1950s and 1960s. Until the 1960s, the strategy was not composed of the regular executive vocabulary. The strategic management draws from the definitions on ‘strategy’ going back hundreds of years. Several organizations constructed strategic management features to establish and accomplish the strategic formulation and implementation procedures throughout the 1960s. However in the past, the word “strategy” was mostly utilized regarding military, politics, but not in business.
A well-known management author: Peter Drucker wrote loads of management publications, with a career phase of fifty years of experience. In this book The Practice of Management writing, he attended to basic strategic issues i.e. the initial accountability of management is to ask ‘what is our business?’. Moreover, Drucker meticulously researched on the topic and precisely answered. He presented that the reply was figured out by the client. Drucker advised eight components where goals need to be established, like efficiency, innovation, financial and physical resources, market position, worker attitude and performance, manager performance and development, public responsibility and profitability (Drucker, 1954).