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Strategy and strategic management - Essay Example

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Strategic management involves designing, implementing and evaluating managerial decisions so as to be able to accomplish organisation long term objectives. It also involves systematic analysis and evaluation of internal and external factors so as to be able to make decisions for…
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Strategy and strategic management
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Strategy and strategic management

Download file to see previous pages... After developing plans, they provide resources that facilitate the implementation of policies and after a specified time, they evaluate whether the goals have been accomplished. Mission statements help managers to set the company direction.
Various theories have been put forward by scholars regarding what strategic management entails. The most common is the ten schools of thought developed by Mintzberg. He classifies strategy into three categories namely; prescriptive, descriptive and configuration (Mintzberg, 1990). This theory helps to interpret the process of strategic planning and be able to plan even when there is change in environment as a result of internal or external factors. This paper is a critique of the concept of strategy, the strategy process and how it can be drawn upon and used by contemporary built environment organizations within current climate.
Strategy is a plan of action directed towards achieving an organization’s goals and objectives. Managers set the organizational strategies and goals and also device ways of achieving them. Different managers use different approaches to strategize and Mintzberg categorizes them into ten schools for better understanding and thereafter classifies them into three broad categories depending on their purpose. They include; prescriptive, descriptive and configurative (Whittington, 2000).
These involve designing, analysis and positioning for the future. The design school of thought is concerned with ways of developing strategies. The manager evaluates the strengths and weaknesses of the organization against the opportunities and threats which are external. Based on the result, the manager is able to formulate a strategy which addresses the shortcomings and tries to maintain a balance between the two. The organizational strategy does not have to be complicated and can be understood and implemented by all staff members while on the other hand, it is static and hence not suitable since ...Download file to see next pagesRead More
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