EMBA 604: STRATEGIC MANAGEMENT
ADEQUACY OF THE ASSERTION BY KENNETH ANDREWS THAT “THE STRATEGY OF A COMPANY IS A REFLECTION OF THE PATTERN OF DECISIONS THAT DETERMINES AND REVEALS ITS OBJECTIVES, PURPOSES OR GOALS, PRODUCES THE PRINCIPAL POLICIES AND PLAN FOR ACHIEVING THOSE GOALS”
ISAAC WILLIAM MENSAH
STUDENT ID: 10360800
ORIGIN & EMERGENCE OF BUSINESS/CORPORATE STRATEGY The concept of strategy originated from the military and then adapted for use in business. Strategy is a term that comes from the Greek word strategia, meaning “generalship”. In the military, strategy often refers to maneuvering troops into position before the enemy is actually engaged. In other words strategy refers to the deployment of troops. Once the enemy is engaged attention shifts to tactics. Thus, in business, strategy involves the deployment of resources (like troops in the military sense) towards achieving a vision or an ultimate objective.
ADEQUACY OF KENNETH ANDREWS ASSERTION ON STRATEGY Kenneth Andrews in his first edition of The Concept of Corporate Strategy in 1971 and updated in 1980 defined corporate strategy as the pattern of decisions in a company that determines and reveals its objectives, purposes or goals, produces the principal policies and plans for achieving those goals, and defines the range of businesses the company is to pursue, the kind of economic and human organization it is or intends to be, and the nature of the economic and non-economic contribution it intends to make to its shareholders, employees, customers, and communities. Numerous definitions of strategy have been made. However some of these definitions with time and experience have been criticized as having some weaknesses. Generally any good strategy must satisfy the following: Fit the situation of the business/organisation Help the company to achieve sustainable competitive advantage Have the ability to boost the...