Essays on Business and Marketing Planning, Scenario Thinking, Game Theory, Planned and Emergent Approaches Coursework

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The paper "Business and Marketing Planning, Scenario Thinking, Game Theory, Planned and Emergent Approaches" is an outstanding example of marketing coursework. Strategic planning is crucial in any organization that endeavors to achieve its long term goals. As a matter of fact, strategic planning is concerned with the long term goals of the organization. The approaches that are adapted to the designation and implementation of a strategy depend upon the specific needs of the organization. Even so, there are some approaches that are considered universally applicable to all organizations in the current business world.

Among the two most prominent approaches adopted in relation to the strategy are emergent and planned strategies. There are differences between the emergent and planned approaches, especially with regard to time and range of planning horizons (Dennis and Dr Macaulay 2003). There is a need to combine some features of the emergent approaches and some elements of planned approaches. Striking a balance between the two approaches requires the application of such concepts as game theory and scenario planning. This paper endeavors to explain the emergent and the deliberate approaches, and how game theory and scenario planning can be used to strike a balance between the two approaches of strategy. Planned and emergent approaches to strategic management Contrary to common misconception, the planned strategy, which is tied to the organizational mission and vision, is not the only approach to long term planning and success.

There is another, a novel approach referred to as the emergent approach, commonly associated with the tactical level strategic planning. Planned Approach The strategy has been described variously as the tactic to be employed by an organization in achieving its long term objectives, mission goals and organizational culture.

Planned approaches are in such a way that they operate in a situation that is characterized by certainty. Certainty is one of the conditions required for there to be a long term plan. As a matter of common knowledge, an organization would not come up with a strategy for long term goals, if there is so much uncertainty in the external environment. According to (Mintzberg 1994), this strategy is only employed where an organization has enough reasons as to why they should classify their strategy as the winning strategy. Also referred to as the deliberate approach, the planned approach is tied to the organization’ s mission and vision.

The core values of an organization are among the main factors that help an organization describe its strategy in terms of stability and ability to qualify as a winning one or otherwise. Additionally, planned approaches are adopted where environmental scanning has been done using SWOT, Porter’ s five forces model and other strategic tools such as scenario analysis. Planned approaches are tied to the long term direction of the organization. The Emergent Approach Unlike the long-term planned approaches, the emergent approach is one that operates and is adopted by chance.

There is a big variance between strategic planning and operational planning. Strategic planning concerns itself in the long term. On the contrary, emergent planning concerns itself with the operational and tactical decisions. As a matter of common knowledge, emergent approaches are adopted where there is need for the managers to respond to problems arising. Unlike the planned strategy, the emergent strategy is in such a way that it changes from time to time in response to variations in the factors that make up the external environment, which affects the decision making of a company a great extent.

According to Hill and McGinnis (2007), 90% of the most successful organizations adopt emergent strategic approaches and respond appropriately to the situation. One thing that has to be noted about emergent strategies is the reality that such strategies are in line with change management. Introduction of change in an organization requires the company to adopt a strategy that makes it keep abreast with the times.

Reference

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Hill And Mcginnis 2007 'The Curiosity In Marketing Thinking' Journal Of Marketing Education, V29, No.1, April

Hill, C. W. L., & Jones, G. R. 2010. Strategic Management Theory: An Integrated Approach. Mason, Oh, South-Western/Cengage Learning.

Lindgren, M., & Bandhold, H. 2003. Scenario Planning The Link Between Future And Strategy. New York, Palgrave Macmillan

Mintzberg, Ahlstrand And Lampel 1998 'Strategy Safari', Prentice Hall, London, Chapter 1

Mintzberg, H. 1994. The Rise And Fall Of Strategic Planning. New York, NY: The Free Press.

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Wade, W. 2012. Scenario Planning: A Field Guide To The Future. Hoboken, N.J, Wiley.

Dennis, N. And Dr Macaulay, M. 2003, Jazz and marketing planning. Journal of Strategic Marketing 11 177–185. Rutledge

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