Define strategy as a type of plan alongwith its features.

Explanation

Strategies are general programmes of action towards the attainment of comprehensive objectives. According to Allen, "Strategy is a unified. comprehensive and integrated plan designed to assure that the objectives are achieved."
Features of strategy are as follows:
(i) Strategy is flexible in nature. Changes can be incorporated, whenever required.
(ii) (i) Strategy is formulated by top level management and its implementation is done by middle and lower management.
(iii) Strategy is formulated for allocation of resources necessary for achieving objectives.
(iv) Strategy is relative combination of actions. The combination is to meet a particular condition, to solve certain problems or to attain a desirable objectives.