Literature Review on Strategic Management with Emphasis on Porter’s Theories as Applied in Current Decision Making Abstract This review provides an overview of a few of the key topics that have defined the strategic management field since the later twentieth century. Strategic planning‚ strategic planning frameworks and strategy implementation issues are discussed both from a historical and modern perspective. Michael Porter’s frameworks and generic strategy provide an excellent backdrop
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five strategic management process tools and their contribution to strategic management and strategic thinking. It has been argued that management needs the resources to create core competencies to develop a strategy that has sustainable competitive advantage (Marti‚ 2004‚ p1)‚ so the definition of a strategy as an ‘integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage’ fits this argument. The strategic management
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Topic Gateway Series Strategic Analysis Tools Strategic Analysis Tools Topic Gateway Series No. 34 Prepared by Jim Downey and Technical Information Service 1 October 2007 Topic Gateway Series Strategic Analysis Tools About Topic Gateways Topic Gateways are intended as a refresher or introduction to topics of interest to CIMA members. They include a basic definition‚ a brief overview and a fuller explanation of practical application. Finally they signpost some further resources
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1 What is Strategy and the Strategic Management Process? Copyright © 2012 Pearson Education‚ Inc. publishing as Prentice Hall. 1-1 The Tools of Strategic Analysis Walt Disney Company 1984 Profits: $242 Million Theme Park Operations: 77 percent of profits Consumer Products: 22 percent of profits Filmed Entertainment: 1 percent of profits Copyright © 2012 Pearson Education‚ Inc. publishing as Prentice Hall 1-2 The Tools of Strategic Analysis Walt Disney Company Hired
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Literature review of strategy implementation and strategy process frameworks Introduction Great strategies are worth nothing if they cannot be implemented (Okumus and Roper 1999). It can be extended to say that better to implement effectively a second grade strategy than to ruin a first class strategy by ineffective implementation. Less than 50% of formulated strategies get implemented (Mintzberg 1994; Miller 2002; Hambrick and Canella 1989). Every failure of implementation is a failure of formulation
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(Lit Review) Several studies have shown the importance of strategic communication in an organization. According to “The Strategic Communication Plan‚” written by Chris Hoover‚ “Strategic communication entails packaging a core message that reflects an agency’s overall strategy‚ values‚ purpose‚ and mission to persuade key stakeholders and enhance positioning.” Strategic communication is a process that involves much more than merely communicating with a co-worker. There are several steps in implementing
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Hailey‚ V.H (2004) Exploring Strategic Change‚ second edition. Burnes‚ B. (2004) Kurt Lewin and the planned approach to changeA re-appraisal‚ Journal of management studies 4(6) 979-1002. Burnes‚ B. (2005) Complexity theories and organisational change‚ International Journal of management reviews 7(2) 73-79. Feldman‚ M. (2000) Organisational routines as a source of continuous change‚ Organic Science 11(6) 611-629. Graetz‚ F. (2002) Strategic change leadership‚ Management decision 38(8) 550-562. Houchin
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Balanced scorecard A strategy management tool • Introduction Companies today are in the midst of a revolutionary transformation as Industrial age competition is shifting to Information age competition. The cut-throat competition that businesses faced in the last two decades has made them to look for improvement initiatives like Total Quality Management‚ Just-in-Time (JIT) systems‚ Employee empowerment and Re-engineering. Though these initiatives resulted in enhanced shareholder value‚ they
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Journal of Knowledge Management Emerald Article: A critical review of knowledge management as a management tool Maria Mårtensson Article information: To cite this document: Maria Mårtensson‚ (2000)‚"A critical review of knowledge management as a management tool"‚ Journal of Knowledge Management‚ Vol. 4 Iss: 3 pp. 204 - 216 Permanent link to this document: http://dx.doi.org/10.1108/13673270010350002 Downloaded on: 23-04-2012 References: This document contains references to 78 other documents
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I. Introduction Creativity is regarded as the major contributor to an organization’s competitiveness. However important creativity is‚ there has been a general problem in the management of creativity. Amabile (1998) claimed that most management impeded creativity in the name of evaluation‚ control and productivity. Managers often referred creativity to the imaginative approach people adopt in problem solving but ignored the importance of expertise and motivation. It is especially significant that
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