STRATEGIC AFICIONADOS
Strategy
"Nobody really knows what strategy is."
Strategy as a 'Plan'
- Consciously intended, purposeful course of action in advance to deal with a situation
Plan is bounded by time, a objective or goal which is to be achieved in future
- Example: 12th Five Year Plan of Indian Government
- Definite Period: 5 years (2012-2017)
- Objective: Final growth target of 9% (GDP)
- Focus: On Poverty reduction by 10%
Strategy as a 'Ploy'
- As a specific plan strategy can be a ploy too; i.e. a specific maneuver intended to outwit an opponent
- A fake show to discourage the competitor
- Example: A company may give a market signal indicating that it would expand plant capacity to discourage a competitor from building a new plant
Strategy as 'Pattern'
- Consistency in behaviour, whether or not intended resulting into a pattern
Past actions ==> Implicit Strategy
- Intended: Henry Ford selling model-T only in black
- Unintended: a large corporation acquiring start-ups
"Strategies are both plans for the future and patterns from the past"
Planning & Realization
- Strategies as plans are not always "realized"
- Realized strategies are not always the result of a plan
Strategy as "Position"
- It is mediating force/match between organization and its environment.
- Ecological Terms: 'Niche'
- Economical Terms: Generates rent in a unique place
- Management Terms: Product - market domain, where resources are concentrated
Strategy as 'Perspective'
- Strategy is a perspective shared by the member of an organization, through their intentions and/or by their actions.
- Perspective is an ingrained way of perceiving the world
Other conceptual perceptions
- Psychologists
- Anthropologists
- Sociologists
- Military Theorists
- Management Theorists
- Behavioural Scientists
Perspective is all about how we (a person) see things around us (him).
Interrelating The 5ps
Perspective
Position
Position A
Position B
PLAN: Virtually every firm created strategic plan to guide its future. Plans are important to individuals too. if you are reading this, probably you have a career plan that requires college degree.
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Limitations of Mintzberg's 5Ps
- Quantum Leaps or Strategic Re-orientation as observed is not covered by these 5Ps
- Failure to mention the importance of the various levels of strategic management
- It fails to bring out the complexity of the specific dimensions:
- Comprehensive analysis of organisation resources
- Analysis of a firm’s environment
THANK YOU
Submitted to:
Prof. Tawfiq Elahi