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Issues in strategic management - Essay Example

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The aim of the present research is to discuss the process of strategic decision making from the theoretical point of view; to look closer at the different opinions and theoretical schools of strategic management thoughts and to systematize the knowledge through creation of taxonomy.
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Download file to see previous pages However, it is essential to distinguish the two basic differences in the strategic management research - while one focuses on the research of the content of the strategic management ideas, the other makes the process of strategic management its object, and also examines the factors, which influence this process. It is interesting to note the expression, which can give and explain the principal roots of the strategic management decision making:
Thus, the aim of the research is not only to make the taxonomy of the decision making knowledge in strategic management, but to make it simple, understandable and practical for the use in the further similar researches.
Taxonomy is the science of classification of any knowledge, and can be applied to any theoretical or practical field of science. (Porac & Thomas, 1990) Applying taxonomy to the area of strategic decision making has become popular in the recent years, though attempts to systematize the schools of the strategic decision making has been attempted earlier. It was a difficult task to accomplish, as strategic decisions have been described, as being unclear, complex, unpredictable and messy. (Schwenk & Dalton, 1991) The first attempt to create at least approximate taxonomy of the strategic decision making was performed in 1976 by Mintzberg and Theoret, who were able to define the three major phases in this process, and described them as the identification phase, the development phase and the selection phase. (Goodstein et al, 1994)
Hart (1992) has also created his own system of strategic decision making processes, and has divided them into five different types - the command mode, the symbolic mode, the rational mode, the transactive mode and the generative mode.
The systematization of the knowledge in the area of strategic management decision making is a difficult process, but we will here attempt to create a table on the basis of the existing theoretical schools and to describe them in more detail, which will assist in further application of the knowledge found in literature in future researches and the solution of the practical issues.
Taxonomy of the strategic management decision making

Name of the theoretical school
The author
The basic knowledge used
The design school model
Learned, Christensen, Andrews and Guth
SWOT analysis; defines strategy as simple and informative process
The planning school
Makes little emphasis on the concept of strategy as it is; is more concentrated on the detailed plans elaboration
The entrepreneurial school
Focuses on the CEO role in strategic decision making process
The extended design school model
Prescribes the CEO's vision to the building of consensus and commitment in the decision making

The detailed discussion of the theoretical schools
In the light of the abovementioned information and in the view of the table created on the basis of the already existing schools of strategic management thinking and decision making, it is interesting to note, that some strategies use the role of the ...Download file to see next pagesRead More
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