Introduction to Stratagic Management
3/19/2013
01
Introduction to Strategy & Strategic Management
BUS 4320 Strategic Management
Introduction to Strategic Strategy and Management (SM)
Learning Outcomes: • Understand the term “strategy”, “Organisational Strategy” and “Strategic Management” • Understand the role of SM within overall management discipline • Understand how SM differs from other functional areas of management • Why Strategic Management?
BUS 4320 Strategic Management 2
Department of Business Administration
Faculty of Management Studies and Commerce University of Sri Jayewardenepura
What do you mean by the term “Strategy”
There is no Universally accepted definition for the term “Strategy” Various people define it differently from the perspectives they believe to be true and accurate. But there is one common idea behind many definitions, that is:
What do you mean by the term “Strategy”
Strategy is a decision or a stream of decisions taken to determine where you want to be and how you should get there. Hence, strategies can come about as a result of rational as well as irrational decisions.
Strategy is a shrewd or smart way of determining and achieving ones goals and objectives.
BUS 4320 Strategic Management 3
Intended vs. Emergent Strategies
Intended Strategy
Strategy is devised through conscious reasoning using rational decisions
Intended vs. Emergent Strategy
Emergent Strategy
Strategy evolve without much conscious reasoning as a result of irrational decisions Strategy Evolve or emerge with spontaneous or situational planning or by chance Let the Strategy incrementally evolve through previous experience, learning and experimentation
(Mintzberg, 1982)
Strategy is well planned in advance.
Realized Strategy
Strategy is designed and created deliberately.
BUS 4320 Strategic Management
5
BUS 4320 Strategic Management
6
1
3/19/2013
Strategy closely resembles the following terms
Action Plan Game Plan Ploy Plot Trap Programme
01
Introduction to Strategy & Strategic Management
BUS 4320 Strategic Management
Introduction to Strategic Strategy and Management (SM)
Learning Outcomes: • Understand the term “strategy”, “Organisational Strategy” and “Strategic Management” • Understand the role of SM within overall management discipline • Understand how SM differs from other functional areas of management • Why Strategic Management?
BUS 4320 Strategic Management 2
Department of Business Administration
Faculty of Management Studies and Commerce University of Sri Jayewardenepura
What do you mean by the term “Strategy”
There is no Universally accepted definition for the term “Strategy” Various people define it differently from the perspectives they believe to be true and accurate. But there is one common idea behind many definitions, that is:
What do you mean by the term “Strategy”
Strategy is a decision or a stream of decisions taken to determine where you want to be and how you should get there. Hence, strategies can come about as a result of rational as well as irrational decisions.
Strategy is a shrewd or smart way of determining and achieving ones goals and objectives.
BUS 4320 Strategic Management 3
Intended vs. Emergent Strategies
Intended Strategy
Strategy is devised through conscious reasoning using rational decisions
Intended vs. Emergent Strategy
Emergent Strategy
Strategy evolve without much conscious reasoning as a result of irrational decisions Strategy Evolve or emerge with spontaneous or situational planning or by chance Let the Strategy incrementally evolve through previous experience, learning and experimentation
(Mintzberg, 1982)
Strategy is well planned in advance.
Realized Strategy
Strategy is designed and created deliberately.
BUS 4320 Strategic Management
5
BUS 4320 Strategic Management
6
1
3/19/2013
Strategy closely resembles the following terms
Action Plan Game Plan Ploy Plot Trap Programme