Strategy is about defining the direction your organisation wants to take and then allocating the resources and managing the risks to get the organisation to where it wants to be. Organisations need to analyse their external environment and look at their existing strengths and weaknesses as part of this process.
The Management Committee of the organisation has the responsibility for both establishing and protecting the overarching purpose, fundamental values and ethical principles which govern the activities of the organisation. These are often referred to as the vision, mission and values. Your vision, mission, and values form the foundation of your organisation and its planning for the future.