Strategic Management
Table Of Contain
Strategy
The words 'strategy' and 'strategic' are well recognized and widely used in the modern business world. However, the term strategy is so widely used for different purposes that it has lost any clearly defined meaning
“Despite the obvious importance of strategy, there is surprisingly little agreement on what a strategy really is. However, the fact is that behind every successful company, there is a superior strategy (Markides, 1999).” ‘’Behind every successful company, there is superior strategy. The company may have developed this strategy through formal analysis, trial and error, intuition, or even pure luck. No matter how it was developed, it is important to understand the logic of successful strategies (Markides, SMR,1999).”
Strategy is a highly ambiguous word that is usually associated with a long range planning, a hierarchically structured system of objectives and goals, and a selected way of creating a fit between external environment, internal resources and capabilities - this view is not wrong, yet it is too narrow . contemporary thoughts in the field of strategic management imply that strategy should be understood as the creation of the company’s future which is the result of collective social activity, considered as an ongoing process (and not as a category) and idiosyncratic in its essence common practice shows that corporate identity and strategy are usually built around market and product focused entities not enough consideration is given to other essential entities of strategy - resources and competencies; the resource perspective is not a natural one for most companies product and market position can be changed relatively easily (if this new position relies on a portfolio of the same or similar capabilities that exist in the present) however, changes in the portfolio of resources,
Strategy
The words 'strategy' and 'strategic' are well recognized and widely used in the modern business world. However, the term strategy is so widely used for different purposes that it has lost any clearly defined meaning
“Despite the obvious importance of strategy, there is surprisingly little agreement on what a strategy really is. However, the fact is that behind every successful company, there is a superior strategy (Markides, 1999).” ‘’Behind every successful company, there is superior strategy. The company may have developed this strategy through formal analysis, trial and error, intuition, or even pure luck. No matter how it was developed, it is important to understand the logic of successful strategies (Markides, SMR,1999).”
Strategy is a highly ambiguous word that is usually associated with a long range planning, a hierarchically structured system of objectives and goals, and a selected way of creating a fit between external environment, internal resources and capabilities - this view is not wrong, yet it is too narrow . contemporary thoughts in the field of strategic management imply that strategy should be understood as the creation of the company’s future which is the result of collective social activity, considered as an ongoing process (and not as a category) and idiosyncratic in its essence common practice shows that corporate identity and strategy are usually built around market and product focused entities not enough consideration is given to other essential entities of strategy - resources and competencies; the resource perspective is not a natural one for most companies product and market position can be changed relatively easily (if this new position relies on a portfolio of the same or similar capabilities that exist in the present) however, changes in the portfolio of resources,