INTRODUCTION: WHAT IS STRATEGIC …

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CHAPTER 1INTRODUCTION: WHAT ISSTRATEGIC management ?What is strategy ?The term strategy proliferates in discussions of business. Scholars and consultantshave provided myriad models and frameworks for analysing STRATEGIC choice(Hambrick and Fredrickson, 2001). For us, the key issue that should unite all dis-cussion of strategy is a clear sense of an organization s objectives and a sense ofhow it will achieve these objectives. It is also important that the organization hasa clear sense of its distinctiveness. For the leading strategy guru, Michael Porter(1996), strategy is about achieving competitive advantage through being different delivering a unique value added to the customer, having a clear and enactableview of how to position yourself uniquely in your industry, for example, in the ways in which Southwest Airlines positions itself in the airline industry and IKEAin furniture retailing, in the way that Marks & Spencer used to.

CHAPTER 1 INTRODUCTION: WHAT IS STRATEGIC MANAGEMENT? What is Strategy? The term ‘strategy’ proliferates in discussions of business. Scholars and …

  Management, Strategic, Strategy, Strategic management