Management Essay
5673 Words
23 Pages
Strategic management is a field that involves the formulation and implementation of plans and policies that help an organization achieve its objectives. Strategic management as a professional field and discipline originated during the period of the half twentieth century, the 1950s with Igor Ansoff, Michael porter, Alfred Chandler and Henry Mintzeberg as the one of the main contributors in the development of the field of strategic management .
During the 1950s, after the Second World War, academicians, researchers and practitioners basically paid very little attention to the practical concepts of strategy developed and embraced during the war. After normalcy and stability was achieved most business persons and investors started focusing …show more content…
During the 1950s, after the Second World War, academicians, researchers and practitioners basically paid very little attention to the practical concepts of strategy developed and embraced during the war. After normalcy and stability was achieved most business persons and investors started focusing …show more content…
Andrew also explains on the importance of having an organization’s mission that gives the organization direction and focus. The rationale used during this period was that strategy was a rule for making decisions (Freeman, 2010).
Social responsibility and moral values were greatly considered by pioneers of the strategy concept in the 1960s. For example, Igor Ansoff referred to them in discussing the non-economic influences which affect the objectives of the firm and the personal non-economic objectives that he described include personal ethics, social responsibilities and social status.
Moving towards the 1970s, this was a period that was characterized by great turmoil and there was also a growing need for strategic thought. World inflation made wages and floating exchange rates volatile, and price control a reality. These scenarios led to the rise of independent firms offering strategic guidance in times when strategic thought and tools for analysis were in great demand (Freeman, 2010). In this regard researchers and academicians changed the name of the field from strategic planning to strategic management. Great personalities such as Ansoff and Mintzberg were very vigorous during this period and in helping understanding the field of strategic management better.
Hence this period, can be described as the moment of conceptualization of strategic
Social responsibility and moral values were greatly considered by pioneers of the strategy concept in the 1960s. For example, Igor Ansoff referred to them in discussing the non-economic influences which affect the objectives of the firm and the personal non-economic objectives that he described include personal ethics, social responsibilities and social status.
Moving towards the 1970s, this was a period that was characterized by great turmoil and there was also a growing need for strategic thought. World inflation made wages and floating exchange rates volatile, and price control a reality. These scenarios led to the rise of independent firms offering strategic guidance in times when strategic thought and tools for analysis were in great demand (Freeman, 2010). In this regard researchers and academicians changed the name of the field from strategic planning to strategic management. Great personalities such as Ansoff and Mintzberg were very vigorous during this period and in helping understanding the field of strategic management better.
Hence this period, can be described as the moment of conceptualization of strategic