The term strategy entered the business world from military services where it was originally used. The strategy works as a blueprint of an organisation that defines its vision, mission, and also helps in determining the future course of action. The strategy helps an organisation to minimise the strengths of competitors by maximising its own strengths. The strategy is formulated to achieve current goals of an enterprise by optimum allocation and utilisation of internal resources and by collaborating different organisational pursuits. Strategy tries to achieve synergy and balance between objectives, resources and concepts to maximise the possibility of success and fruitful results. In wider terms, strategy refers to determining the fundamental longterm organisational goals and at the same time developing plans, acquiring, allocating and deploying resources to achieve those goals. The purpose of formulating strategy is to bring consistency and alignment in the activities of an organi...