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Yin-Yan of Strategic Management
Strategy Management
>>
3 Levels
Strategies of Market Leaders
Strategic Business Success
Achieve MUCH MORE with Innoball |
Old
strategic
management schools, often fighting between themselves,
favor different single-sided approaches to strategy formulation. They
represent both different approaches to
strategy formulation and different
parts of the same process.
Today's managers have to deal with the entire
business system – as opposed to dealing with its different parts
independently ‒ not only to keep strategy formulation as a vital force
but also to impart real energy to the strategic process. They must
practice balanced
results-based leadership and apply a
holistic,
synergistic, and
balanced approach to business
systems.
Certain positive moves in this direction can
be seen. Some approaches to strategy formulation take a
wider perspective and cut across strategic management schools in eclectic and
interesting ways, for example Learning and Design in the "Dynamic
Capabilities" approach, or the "Dynamic Strategy" one based on knowledge
working.
The currently dominant view of
business strategy
–
resource-based theory
– is based on the concept of
economic rent and the
view of the company as a collection of
capabilities. This view of strategy
has a coherence and integrative role that places it well ahead of other
mechanisms of
strategic decision making. |
