Essays on Strategic Management: Concepts and Cases Case Study

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The paper "Strategic Management: Concepts and Cases" is a great example of a case study on management. The management in any organization always strives to make responsible strategic and policy decisions aimed at enhancing and sustaining high organizational performance and managing resources in such a way that societies can benefit from them in the future. This calls for the addressing of specific areas in strategic management. An organization will have addressed these areas when it implements a strategy that creates value for its customers and other stakeholders and the strategy cannot be duplicated by its competitors or proves to be too costly to imitate.

This essay will look at some of those areas and discuss them in relation to provided case studies. Case1---the evolving strategy (Four types of the strategy formulation process, 5Ps for strategy)Strategic management is a broad field hence critics purporting that the same as the cause of lack of a unifying theory base. Richard Whittington alienates four theories of strategy; classical, evolutionary, processual, and systemic (Grant et al. 2011). The classical theory of strategy is one that postulates that plans and decisions that organizations make are geared towards the making and maximizing profits.

Here, profitability is the main aim of the business and rational planning is the vehicle to deliver that end. It is characterized by rational analysis, separation of conception from execution, and the commitment of profit maximization. Top managers are in charge of the formulation of policy and implementation is left to the operational managers (Whittington 2001; Grant et al. 2011). The evolutionary theory of strategy holds that the success of organizations is dependent on the environment rather than rational planning.

This theory ignores the role of decision-makers and makes the implication that the environment selects and determines the kind of organizations that succeed. Successful organizations adapt to the existing environmental pressure (Grant et al. 2011). Processual theories of strategy propose that instead of organizations striving to make changes they should accept the world the way it is. The main aim of this strategy is more than just profit maximization. Here the strategists are supposed to follow the already existing rules and routines of the organization. Here the strategy emphasizes internal development rather than external foresight and does not believe in rational planning.

References

Accenture 2011, Business at its best: Sustainable value creation, viewed 18 May 2015, http://www.accenture.com/sitecollectiondocuments/pdf/accenture_business_at_its_best.pdf

Aras, G and Crowther, D 2010, A handbook of corporate governance and social responsibility, Gower Publishing Limited, Farnham Surrey.

Grant et al. 2011, Strategic Management: An Australasian Perspective, John Wiley & Sons, Milton Qld.

Kanter RM 2011, How great companies think differently, Harvard Business Review, viewed 18 May 2015, https://hbr.org/2011/11/how-great-companies-think-differently

Kocmanová, A, Hřebiček, J and Dočekalová, M 2011, Corporate governance and sustainability, Economics and Management, vol. 16, pp. 543-550.

Norton, A and Hughes, J 2009, CIMA official learning system: Enterprise management, Elsevier Ltd, Oxford.

Rothaermel, FT 2013, Strategic Management: Concepts and cases, McGraw Hill, New York.

Smith, P, Berry, C and Pulford, A 1999, Strategic marketing communications: New ways to build and integrate communications, Kogan Page Limited, London.

Tallman, S 2009, Global strategy, John Wiley and sons, West Sussex.

Whittington, R 2001, What is strategy- and does it matter?, Cengage Learning, London

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