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Good Strategy vs Bad Strategy - Assignment Example

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The author of this assignment "Good Strategy vs Bad Strategy" touches upon the concept of the strategic management. It is mentioned that strategic management involves strategic decision making which is concerned with firm’s operating environment, resources and stakeholders. …
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Good Strategy vs Bad Strategy
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Download file to see previous pages Strategies are based on vision, mission, and objectives which make it empty by promoting similarity and convergence without focusing on uniqueness and divergence. This made Rumelt come up with a different management style based on differentiating between good and bad strategies. This approach has enabled managers to know where they get it wrong when it comes to management (Rumelt, 2011).
Various companies have put in place various strategies but some of them end up failing due to their in the ability to differentiate between good and bad strategies (Harney, 2011). Many of these strategies are unable to be evaluated before they are put in action and therefore they are evaluated by their outcomes. This evaluation system is outdated since it may end up making a big company fail. Most managers get it wrong when setting company’s strategies by failing to face problem at hand. This is because managers draw a list of things that should happen within a company as a sign of progress. According to Rumelt (2012), this approach lacks the sense of realism because a strategy cannot be evaluated based on a list of outcomes. Managers also make stretch goals focusing ideal state of affair which they confuse with strategy. A good strategy, in this case, should involve identification and analysis of obstacles a company of a business entity is facing at the time of lying strategies (Harney, 2011). Failure to consider these obstacles in management leads to the implementation of the bad strategy.
In other cases, managers mistake goals for strategies. Mostly, ambitious goals are set without appropriate consideration of the means through which they will be realized (Harney, 2011). This presents difficulties in the later stages of operation as the arising situation may need more resources than it was projected. Also, set plans can fail to comply with the course of action and consequently the company disoriented (Rumelt, 2011). ...Download file to see next pages Read More
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