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Strategic Management . Macmillan and Tampoe Oxford University Press 2000. Introduction to Strategy and Strategic Management. Chapter 2 What is Strategy?. Strategy – a manager’s point of view. Strategic Management: relates to the future of the enterprise

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strategic management

Strategic Management

Macmillan and Tampoe

Oxford University Press 2000

(c) Macmillan & Tampoe 2001

introduction to strategy and strategic management

Introduction to Strategy and Strategic Management

Chapter 2

What is Strategy?

(c) Macmillan & Tampoe 2001

strategy a manager s point of view
Strategy – a manager’s point of view
  • Strategic Management:
    • relates to the future of the enterprise
    • Is about taking action now to secure the future
    • The future is uncertain
    • Decision about the future are made on incomplete and wrong information
    • Prepares an organisation for future success

(c) Macmillan & Tampoe 2001

definitions of strategy
Definitions of Strategy
  • Strategy:
    • is knowing the business you propose to carry out (Xenophon)
    • defines what a business is in or is to be and the kind of company it is or is to be (Andrews)
    • is a rule for making decisions (Ansoff)
    • The way in which a corporation endeavours to differentiate itself positively from its competition (Ohmae)
    • Ideas and actions to conceive and secure the future (Macmillan & Tampoe)

(c) Macmillan & Tampoe 2001

military strategy some lessons
Military Strategy – some lessons
  • Originated to help armies win battles
    • Emphasises winning
    • Zero-sum game
    • Emphasises leadership
    • Focus on taking action to achieve desired aims
  • Where the analogy breaks down
    • No customer to satisfy in business sense
    • Assumes simple hierarchical structure
    • Assumes obedience to orders

(c) Macmillan & Tampoe 2001

other strategic themes
Other strategic themes
  • Strategy has political overtones and benefits
  • Academic contribution to strategy offering multiple ways if thinking about strategy
  • Practitioners contribution is of practical ways of evolving and implementing strategy

(c) Macmillan & Tampoe 2001

slide7

There is no one size fits all strategy

  • Strategy making is more an art than a science
  • Our understanding of strategy making is imperfect but growing
  • New strategic approaches are often created by entrepreneurs in the heat of battle (e.g., Sloan, Grove, Welch)

(c) Macmillan & Tampoe 2001