Different perspectives on Strategy and Strategic management

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Strategy and Strategic Management

November 6, 2012

MKTG45165: Strategic Perspectives on Marketing

Different perspectives on Strategy and Strategic management

Date: 06/11/2012

Word count: 1050

Student Number: N0466534

Table of Contents

Executive summary        

Introduction        

Different perspectives on Marketing Strategy        

Strategy statements: Mission and vision        

Strategic choices        

Value preposition        

Different perspectives on Strategic Management        

The process of strategy        

Flexibility        

Competitive advantage        

Summary conclusion        


Strategy and Strategic management

Executive summary        

The report defines the concept of strategy and strategic management offered by different authors with applied examples on M&S case studies. Some definitions offer fragments of the whole concept and the purpose of this paper is to critically analyze and form a complex and detailed understanding of what is strategy and strategic management. The first part of the report is about strategy and aims to apply the mission and vision statements, strategic choices theory and the value preposition theory to the M&S case study. The second part refers to the strategic management or the process of strategy (Mintzberg and Lampel: 1999) , presenting different perspectives and angles as well as the M&S case study analyzed regarding the formulating, implementing and evaluating the decisions, the flexibility and the competitive advantage. Because the M&S case study offers an illustration of unsuccessful strategy, the examples in the report applied to the theory show what concepts were neglected or applied in an ineffective way and the consequences represented by ineffectiveness.

Introduction

Strategy and Strategic management are two different but related concepts (Eden, Ackerman: 1998) which are defined in different or similar ways, depending on different authors and used differently depending on the organizations. The two complex concepts (Johnson, Whittington, and Scholes: 2008) are explained from different angles and perspectives (Lynch: 2009). Something that is common regarding strategy and strategic management is the fact that they are the means that lead to an organization success or failure (Hooley, Piercy, Nicoulaud: 2008).

Different perspectives on Marketing Strategy

According to Chandler(1962) the concept of strategy is described as being “the determination “ (Chandler: 1962, p.17) of a long time process that has as a purpose the achievement of an organizations’ goals including the distribution of the resources for making it successful.  Other authors offer a division of strategy. Depending on the context and on each organization the marketing strategies can be divided into formal, decisions being taken from top to down (Varadarajan and Clark 1994) as in M&S case study( Collier:2004), either emergent or  improvisational (Moorman and Miner 1998). Analyzing the strategy concept from the angle of Andrews (1971) it also has the purpose of defining in what business the company is in as well as what kind of company it is. In order to make this aspect clear the strategy statements have their role.

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Strategy statements: Mission and vision

At the base of the strategy stay the mission and vision statements that define the direction of the company (Blythe: 2003) and refer to the goals that the company want to achieve (Johnson, Whittington, Scholes: 2011). The mission strategy helps the managers to concentrate on what is essential in terms of strategy (Kaplan, Norton:2004).

 An example of failure in knowing the business in which the brand was in and the inability of adapting to the changes that took place along time is the M&S example that lost what is central in their strategy. Also ...

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