Strategic Management Journal‚ Vol. 13‚ 17-37 (1992) STRATEGIC DECISION MAKING KATHLEEN M. EISENHARDT and MARK J. ZBARACKI Department of Industrial Engineering and Engineering Management‚ Stanford University‚ Stanford‚ California‚ U.S.A. This article reviews the strategic decision making literature by focusing on the dominant paradigms—i.e.‚ rationality and bounded rationality‚ politics and power‚ and garbage can. We review the theory and key empirical support‚ and identify emergent debates
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Mintzberg’s Strategy Continuum: Philosophic and Theoretical Underpinnings Naveed Yazdani Chair Department of Business Administration School of Business & Economics University of Management & Technology Yazdani@umt.edu.pk & naveedyazdani@hotmail.co.uk Abstract This theoretical paper views Henry Mintzberg’s ‘Strategy Safari’ as representing a strategy continuum along which different styles/modes of strategy making and implementing are spread‚ with Prescriptive/Planning style of strategizing at
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CASE – 1 MANAGING HINDUSTAN UNILEVER STRATEGICALLY Unilever is one of the world’s oldest multinational companies. Its origin goes back to the 19th century when a group of companies operating independently‚ produced soaps and margarine. In 1930‚ the companies merged to form Unilever that diversified into food products in 1940s. Through the next five decades‚ it emerged as a major fast-moving consumer goods (FMCG) multinational operating in several businesses. In 2004‚ the Unilever 2010 strategic
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“Notable Quotes” "Like a product or service‚ the planning process it self must be managed and shaped‚ if it is to serve executives as a vehicle for strategic decision-making." —Robert Lenz "The difference between now and five years ago is that information systems had limited function. You weren’t betting your company on it. Now you are." —William Gruber "Weak leadership can wreck the soundest strategy." —Sun Tzu "A firm that continues to employ a previously successful strategy eventually
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Master of Business Administration Strategic Management Assessment INTRODUCTION Yum! operates in more than 130 countries with over 40‚000 restaurants. The organisation is one of the operators of QSR (quick service restaurant). Its brands are KFC‚ Taco Bell and Pizza Hut which specialises in chicken‚ food categories in Mexican style and pizza respectively. Yum! restaurant business entered China in 1987 and has established itself within the Chinese market. The organisation has
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STRATEGIC MANAGEMENT 1.0 Analysis of Banking Industry in Nigeria. 1419 The Nigerian banking industry is one of the most dynamic and competitive industries in the Country. The role of banks in economic development has been richly articulated in the literature. Pioneer contribution of Schumpeter (1934) was of the view that financial institutions are necessary condition for economic
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Strategic management - major intended and emergent initiatives taken by general managers on behalf of owners‚ - involving utilisation of resources‚ to enhance the performance of firms in their external environments. It entails specifying the organisation’s mission‚ vision and objectives‚ developing policies and plans‚ often in terms of projects and programs‚ which are designed to achieve these objectives‚ and then allocating resources to implement the policies and plans‚ projects and
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Strategic Management: Concepts and Cases‚ 13e (David) Chapter 1 The Nature of Strategic Management 1) Strategic management focuses on integrating management‚ marketing‚ finance/accounting‚ production/operations‚ research and development‚ and information systems to achieve organizational success. Answer: TRUE Diff: 1 Page Ref: 6 Topic: Introduction Objective: 1.01 Describe the strategic-management process. 2) Optimizing for tomorrow the trends of today is the purpose of strategic management. Answer:
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What Is Strategic Management? 61. What can be defined as the art and science of formulating‚ implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives? a. Strategy formulation b. Strategy evaluation c. Strategy implementation d. Strategic management e. Strategic leading Ans: d Page: 5 62. ____________ is used to refer to strategic formulation‚ implementation and evaluation‚ with ______________ referring only to strategic formulation
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Approaches to the strategic management of people There are a number of models of SHRM and in this unit we will look at three: • The best practice view. • The best fit view. • The resourcebased approach. The best practice view This view starts from the premise that a single set or ‘bundle’ of HR policies and practices will lead to better organisational performance‚ sustained over a lengthy period‚ whatever the prevailing business circumstances. What are these socalled best
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