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Hustle As Strategy by Amar Bhide in Harvard Business Review September-October(critical review of the article) - Essay Example

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1) Over the period of time, the focus of debate on the strategy and how firms respond to the challenges have been based extensively upon understanding and following the competition. The traditional models of strategy focus on developing the ability to effectively scan the external environment of the firm and adjust the strategies accordingly…
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Hustle As Strategy by Amar Bhide in Harvard Business Review September-October(critical review of the article)
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"Hustle As Strategy by Amar Bhide in Harvard Business Review September-October(critical review of the article)"

Download file to see previous pages (Porter, 2004). Author therefore seems to have taken a narrow view of how organizations can actually just rely on their own resources to gain competitive advantage and give less consideration to what competition is doing. Porter however, claims that operational efficiency is not the strategy though Porter believes that it is necessary but not the sufficient condition.(Porter, 1996). Author however, seem to have taken a view that operational effectiveness can actually materialize into successful strategy. Debating strategy from this perspective therefore can be considered as important because this is where strategy is actually directly linked with the maximization of the profits. (Davies, 2000). Author however, seem to differ by offering an indirect suggestion towards the use of differentiation as one of the (Porter, 1989) Such approach toward strategy therefore outlines that strategy is not just limited to understanding and exploring how to leverage the organizational resources in order to compete effectively. (Speed, 1989). Within this perspective the debate presented in this article points out that strategy should be of evolutionary nature where only such strategies will survive which can produce best results. The author has given different examples of financial institutions where the international firms continued to re-evaluate their strategies in order to fit them according to what is working best. (Elfring, and Volberda, 2011) The evolutionary approach towards the strategy outlines that firms cannot withstand the competition but rather focus on developing their competencies in order to successful evaluate and challenge the competition. This also outlines that the firms must continue to focus upon the use innovative tools and techniques to successfully challenge the competition. (Henderson, 2007). This approach also outlines that the author has taken a broader view of how the firms can actually use their core competencies in order to compete. This thought on strategy suggests that once the firms take care of developing their core competencies and resources, competition matters less to them. (Morden, 2007). These core competencies often translate into the competitive advantages for the firms and the firms resultantly develop into stronger and innovative organizations. It is also critical to understand that the firms pursuing such strategy must not be complacent and continue to evolve themselves according to the external situation. As such the link between the organizational strategies as well as the external environment is critical and the author has suggested the same. Overall, the author seems to have presented an evolutionary school of strategy for firms in this article. 2) One of the most important strengths of this article is based upon the fact that the author has produced a relatively different and fresh approach towards the strategy. By outlining different practical examples from financial services industry, author has critically offered a glimpse into how the managers think and evaluate their options before taking on any action. As such it is important for the managers to consider different aspects of the strategy making before it can actually be materialized. (Pretorius, & Maritz, 2011). What is unconvincing however is the fact that the author has just focused upon the financial service ...Download file to see next pagesRead More
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