Strategy Development Process Flashcards
What 3 factors are considered in ‘Deliberate Strategy’?
- Strategic Leadership
- Strategic Planning
- Externally Imposed Strategies
What 3 factors are considered in ‘Emergent Strategy’?
- Logical Incrementalism
- Political Processes
- Organisational Systems
The Deliberate and Emergent strategies culminate to create a ___________ strategy
Realised
What are the 7 steps to Strategic Planning?
1. Corporate vision
Business goals
2. External analysis
3. Internal analysis
4. Formulating strategic alternatives
5. Evaluation and selection
6. Implementation
7. Strategic controlWhat are the psychological benefits of planning?
4
- can provide opportunities for involvement
- leading to a sense of ownership
- provides security to managers
- re-assures managers that the strategy is ‘logical’
What are the disadvantages associated with planning?
5
- Confusing managing strategy with planning
- Detachment from reality
- Paralysis by analysis
- Over-complex planning processes
- Dampening of innovation
What is ‘Emergent Strategy’?
strategies emerge on the basis of a series of decisions, which forms a pattern that becomes clear over time
What is ‘Logical Incrementalism’?
the development of strategy by experimentation and learning ‘from partial commitments rather than through global formulations of total strategies.’
(Quinn, 1978)
What are the 3 main characteristics of logical incrementalism?
Environmental Uncertainty - constant environment scanning and change
General Goals - avoiding too early commitment to specific goals
Experimentation - building a strong but flexible core business but engaging in ‘side bet’ ventures to test out new strategies
What is the political view of strategy development?
strategies develop as the outcome of bargaining and negotiation among powerful interest groups (or stakeholders)
What is ‘Strategic Drift’?
Strategic drift may be a natural outcome of the influence of political process, organisational structure and systems and prior strategic decisions
