ABSTRACT

Strategies followed by business usually include a plan of action and policies intended to create a competitive advantage in the marketplace. Often managers who organise people and resources and who manage the firm, make all the strategic as well as operational decisions. A manager facing an unexpected situation can take a decision after asking himself the question 'will such an action further the company's vision?' Vision statements often embody the core values of the founding entrepreneur, and say something about the inspiration behind the company that would not be obvious from a reading of its business plans (Bowman and Faulkner, 1997). Strategic vision is where all acquisitions begin. Management vision of acquisition is shared with suppliers, customers, lenders, and employees as a framework for planning, discussion, decisions, and reactions to change (Sirower, 1997). It is argued that in order to develop corporate strategy, the vision must be clear to large constituent groups and adaptable to many unknown circumstances. Corporate strategy is an organisational process, in many ways inseparable from the structure, behaviour, and culture of the company in which it takes place (Andrews, 1998).