Definition Of Strategy, And Environment Essay
o Originates from the 1960s’ (Learned et al. 1965)
o The performance of a business relies on the harmony of the management with its environment. (Houben et al.1999;Agarwald et al.2012)
o John L . Thompson implies that Strategic management is the evaluation of how an organisation’s resources and values follow the demands of what he defines as an uncertain, complex and dynamic environment. It must aim at developing the key factors of success (Thompson 1990) and using the necessary tools for accomplishment of objectives (Glaister & Falshaw 1999)
o Kenneth Andrews demonstrated that a good strategy is linking the external situation of a firm to its internal assets or characteristics (Andrews 1971) o Firms, must, so as to reduce uncertainty, never underestimate the impact of change because strategic planning becomes difficult in an uncertain environment (Burkhard Schenker, Torsten Wulf 0000????) o SWOT analysis aims to link changes and needs of the environment with the internal capabilities (Johnson, Scholes 1998, Thompson 1990).
o The list of factors must only include one’s of importance so as to concentrate on the essentials, gain of competitive & strategic advantage is a result of good use of the resources (Thompson 1990) and the analysis can be oriented on the general view of the organization or in comparison to it’s competitors (Deakins, Freel 2006)
o Shouldn’t just rely on a SWOT, it should be used as an added tool to the…