Basic Concepts of Strategies, Decision Making, and Planning
People use the word strategy in a variety of different contexts. Its original meaning, “the art of the general” in ancient Greek, refers to the conduct of warfare1. The term has later assumed connotations ranging from statesmanship and management of national policy to diplomacy and economic planning. Ever since John von Neumann and Oskar Morgenstern  showed the similarity between game-like problems in economics, sociology, psychology and politics, the concept of strategy has become pervasive also in the social sciences. We also talk about “problem solving strategies”, “corporate strategy” in a large business enterprise, and so on — whenever a sequence of goal-oriented actions is based on large-scale and long-range planning.
KeywordsBasic Concept Economic Planning Corporate Strategy Original Meaning Rational Decision Maker
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