The paper "Strategy, Business Information and Analysis" is an outstanding example of business coursework. This essay has tackled the issue of why the consultants and theorists find it hard to agree on the meaning of the strategy, it’ s important and how it is constructed. This has been achieved by looking at three main questions which are; what is strategy? Does strategy matter and how it is constructed. To tackle the first question, the essay has defined the strategy by utilizing the Mintzberg 5ps, the evolution of the strategy schools of strategic thinking and analyzing.
From the analysis, the strategy can be defined as a plan, ploy, position, pattern and perspective. All these meaning on strategy stem from Mintzberg definitions. The strategy started in the early war period. This involved coming up with strategies that avoided wars and enabled business monopolies. The emergence of scientific management led to the expansion of the boundaries to include all the aspects of productivity (Heuser, 2010). The essay has looked at all the methods in which the strategy can be constructed. The methods used are planned approach or emergent approach.
The planned approach is the most used tactic in coming up with strategies. Despite the planned approach being more preferred, irrationality exists. Innovation has been proved to affect strategic planning. There is a distinct relationship between innovation and strategy. For an organization to succeed, strategy and innovation should exist. In conclusion, the essay has explained all the three questions which the theorists and consultants find hard to agree on. Introduction In 1969 to mid-1970, it was referred to as the strategy heydays due to the invention of the work experience curve.
The discovery argued that the more experience industry has in coming up with a product, the lower the cost they incur. This work became a base in which the companies strategized upon to have a competitive edge. The competitive strategy was advanced with differentiation and resource-based competitive strategy was introduced in the 1990s. Strategic proliferation has been among the last steps in strategic history and started from mid-1995 to mid-2010. The rise of the internet in the late 1990s and automation technologies have made the concept of strategy more complex.
The schools of strategic thinking according to Mintzberg are ten and have been well elaborated in the essay (Heuser, 2010). From the research, the importance of strategy cannot be underrated. Lack of a strategy puts the firm into threats in the business world. Despite this, some of the firms have been able to survive without a strategy. This brings the controversy on whether having the strategy matters. The blue ocean and red ocean strategies have been looked upon and their characteristics analyzed. It’ s evident that the blue ocean strategy enables the firm to avoid competition through innovation.
Red ocean strategy involves cutthroat competition. Blue ocean strategy can arise from the red ocean strategy. This essay will look at various aspects involving strategy, the issue on why the consultants and theorists find it hard to agree on the meaning of the strategy, it’ s important and how it is constructed as well as other crucial elements involving strategy.
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