What is strategy development process?

In many big company, the staff always can hear strategy development, for instance, every year, CIO or IT director would deliver IT function strategy plan to team, which is basement and consensus to guild IT operation, this task is one of the most important job for top management.

so what is the strategy development process? I got one short explaination from website.

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A strategy is an organizations plan to achieve its mission - which is the purpose for the organizations existence.

The development process involves three conceptual ways in which firms achieve their missions:

• Differentiation
• Cost Leadership
• Response

Effective strategies are also developed through proper evaluation of a S.W.O.T. analysis to gain competitive advantage .

Reference website to develop strategic sample