Discuss the four strategic management theories/Models clearly showing the proponent of the theory/model, the year it was developed, the key postulates of the theory/model and the critique of the theory/model and how the theory/model is used in strategic management to assist organizations to achieve competitive advantage. Dynamic Capabilities Theory Institutional theory Stakeholders theory
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Discuss the four strategic management theories/Models clearly showing the proponent of the theory/model, the year it was developed, the key postulates of the theory/model and the critique of the theory/model and how the theory/model is used in strategic management to assist organizations to achieve competitive advantage.
- Dynamic Capabilities Theory
- Institutional theory
- Stakeholders theory
The Eight ‘S’s of successful strategy execution
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- Discuss the four strategic management theories/Models clearly showing the proponent of the theory/model, the year it was developed, the key postulates of the theory/model and the critique of the theory/model and how the theory/model is used in strategic management to assist organizations to achieve competitive advantage.i. Dynamic Capabilities Theory ii. Institutional theory iii. Stakeholders theoryiv. The Eight ‘S’s of successful strategy executionReview the material on the history of strategic management from Business Strategy: The Art, Science, and Craft of Decision-Making and the selections from Chapter Four in Principles of Management Then, go to the Discussion Forum for Unit 1 and engage in a dialogue with your classmates by answering the following questions: How has modern strategic planning changed since the 1970s? In what ways has strategic planning stayed the same since the 1970s? How do firms use mission and vision statements within a modern organization? Research the vision and mission statement of an organization you’re familiar with and share it with the class How might you improve on the statements?Strategic planning is an integral part of organizational success, serving as a compass that guides decision-making and resource allocation. It involves a systematic process of defining goals, assessing resources, and formulating strategies to achieve long-term objectives. Successful strategic planning requires a thorough understanding of an organization's strengths, weaknesses, opportunities, and threats (SWOT analysis). By analyzing these factors, leaders can identify competitive advantages, mitigate risks, and capitalize on opportunities in the ever-evolving business landscape. Additionally, strategic planning encourages adaptability, allowing organizations to respond effectively to changes in the market, technology, or external factors. It fosters alignment among team members, ensuring that everyone is working towards common goals. In essence, strategic planning is not merely a theoretical exercise but a dynamic tool that empowers organizations to navigate complexity and foster…
- What is Strategic Management in the business world? Is there a difference between Strategic Management and Strategic Planning? kindly explain siting some scholarsMangement What are the key principles and elements of effective strategic planning, and how do they contribute to an organization's success in a dynamic business environment?Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Successful strategic management plays an important role in the success of the business. How will you implement the components of strategic management in your own organization? Elaborate.
- What can you say about the Criticism of Strategic Management? What valuable lesson to learn? Strategic management may be beneficial in some cases, but they are likely to be ineffective in some of time on other company. There are several aspects of strategic management that have been questioned, and the arguments should be addressed. According one line of criticism, strategy isn't necessarily developed; it might just happen. The most crucial decisions in a company may not be the huge or abrupt ones, but rather the small and gradual ones. Strategic management is believed to be founded on false assumptions. No matter how careful the executives are, there will always be a gap between their goals and their actions. According to Mintzberg, 1994, no one understands enough about good strategic management thus, organizational success and failure are influenced by luck. According Miller and Cardinal, 1994, it is still a question that traditional strategic techniques help firm in…Strategic management is faced with many threats from the turbulence in the environment. Discuss at least three emerging issues in strategic management and evaluate their effect on strategic management.Your CEO has requested that you lead a cross-functional management team with the aim of recommending 5 key strategic initiatives to be implemented concurrently over the next five years. He requests you outline the exact strategy models you will utilise and the sequence in which you will use them and how they will be integrated to converge upon 2 exploit-type strategies, 1 conquer, 1 ‘shine-up’ and 1 avoid. Write a comprehensive memo to the CEO outlining each of the models you will apply and how you will manage the strategy development process. [no case study needed for this question] You may use as many words and diagrams as you need for this answer
- Discuss the following questions in relation to strategic management: What factors make up this process? How important is it to change, and what criteria determine the changes in a strategic management plan?Select an organization. Determine the organization's strategic management, planning, implementation, and monitoring process. How effective is their strategic management process? How well does their strategic management process align with their results? How can you tell? What factors contribute to their overall effectiveness? Briefly present and discuss such aspects. If there are many, select the top three to discuss.Explain the levels of involvement in strategic management and the role ofstaff at each level. How does the strategy hierarchy facilitate this?