THE STRATEGIC MANAGEMENT THEORY

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Strategic Management Questions

Students Name

Institution

Strategic Management Questions

Activity 1

The 5 Ps strategy as outlined by Henry Mintzberg assists one in comprehending the various ways through which organizations conceptualize strategy. The 5 Ps describe a strategy as one that consists of a plan, ploy, position, pattern, and perspective.

Plan: Strategy can be described as a consciously intended direction of action or a set of rules and guidelines formulated to deal with a particular situation. A plan, therefore, is important in crafting an effective strategy as it guides a firm into its future. Also, it establishes clear and precise goals and tactics that make it possible for an organization to enhance productivity and attain competitive advantage (Hill et al., 2017).

Ploy: This is a particular move premeditated to trick or outwit the firms competitors, for instance using utilizing creativity to improve success. A ploy is significant since the strategic management if fixated to its most competitive and dynamic aspects. Therefore, a ploy ensures the formulation of a strategy that makes an organization more competitive within its operational industry.

Pattern: It refers to the extent of consistency in a companys strategic actions. As such, a pattern concentrates on actions and also considers the firms behavior. Thus, a pattern is relevant as it ensures that a firm is consistent in its objectives.

Position: This is considered as an organizations place in the industry within which it operates as compared to its competitors. It can be described as a way of locating a firm in its environment, which implies the environment where the resources are concentrated. Additionally, it entails viewing a company in the context of its competitive environment, how they acquire their position, and safeguard them in a bid to have a competitive edge.

Perspective: It is described as the manner in which management deduces the competitive landscape in their environment. It also delineates a firm as a collective action in quest of common objectives. Therefore, it enables a company to establish a means to cooperate in the production process (Lynch, 2015).

Intended strategies are the ones that can be implemented as they have been premeditated. This can be accomplished if three conditions are fully met. First, the personnel in a firm must comprehend each significant detail in managements envisioned strategy. Second, the strategy needs to make as much sense to each organizational member as they view the world from their own perspective, that is, if the organization is to undertake collective action (Hill et al., 2017). Finally, the collective intents must be achieved with little unexpected external influence. However, it is rare to find a situation where all the aforementioned conditions apply. Thus, it is difficult that an intended strategy can be implemented without notable modifications.

Emergent strategies, on the other hand, are patterns that are established in the absence of intentions. Typically, management does not edge these decisions as being strategic at the time they are being formulated; they instead utilize a distinctly tactical character. These strategies are the outcomes of managers daily reaction to challenges or opportunities that were unanticipated by those mandated with deliberation of strategy-formulation process, at the time they were conducting their planning and analysis. Therefore, it can be deduced that intended and emergent strategies are the major sources of factors that impact and finally compromise an organizations strategy. Such factors lead to disparities between an organizationss actual and envisioned strategy (Lynch, 2015).

Activity 2

In the context of departmental strategy designing, the departments usually develop a set of viable action programs that are to be effected. It entails the selection of goals and objectives, and defining the landscape and sequence actions that should be undertaken. A good example of a corporate goal is the requirement to reduce the production costs. This goal can be accomplished by establishing a departmental objective which can be to intensify factory productivity by a specific percentage within a set period of time. To achieve this objective it requires commitment, discipline, and cooperation from all the concerned parties. Also, the production managers will have to organize for employee training and empowerment in order to enhance their productivity and efficiency. The employees must possess sufficient knowledge and skills in order to be productive (McGee, 2014).

For a corporate goal to be measurable, all the necessary steps must be undertaken during implementation. The two most significant considerations in the implementation of a corporate goal are performance measures and performance referents. These are the metrics along which an organizations corporate goal can be gauged (Ansoff, 2014). A good example of how a corporate goal can be implemented to become measurable is a situation where a company attempts to reduce production costs as mentioned earlier. For it to be measurable, the organization can use liquidity measures, leverage measures, and profitability measures. If the goal is to reduce the cost of production, then this must reflect in the profitability of the organization.

References

Ansoff, H. I. (2014).Strategic management. Place of publication not identified: Palgrave Macmillan.

Hill, C. W. L., Schilling, M. A., & Jones, G. R. (2017).Strategic management: Theory. Boston, Massachusetts: Cengage Learning.

Lynch, R. L. (2015).Strategic management. New York: Pearson.

McGee, J. (2014).Strategic management. Chichester: Wiley.

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