Strategy Evaluation

2005 Words9 Pages
Strategic Management is the art and science of formulation, implement and evaluation

cross-functional decisions that enable an organization to achieve its objective. Strategic

Management has changed to meet the challenges of each decade of business development and

has been significantly impacted by globalization. Organizations using strategic management

are more successful than organizations that do not employ this central process.

Strategic Management is often referred to as strategic planning in the business arena,

but is referring to the entire process as strategic management is more encompassing than the

planning phase. Strategic planning is a management tool. As with any management tool, it is

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Prevailing strategies become self-confirming. In order to avoid this trap, businesses must stimulate a spirit of inquiry and healthy debate. They must encourage a creative process of self renewal based on constructive conflict.

Art Kleimer (1996) claims that to foster a corporate culture that embraces change, you have to hire the right people; heretics, heroes, outlaws, and visionaries. The conservative bureaucrat that made such a good middle manager in yesterday 's hierarchical organizations is of little use today. A decade earlier Peters and Austin (1985) had stressed the importance of nurturing champions and heroes. They said we have a tendency to dismiss new ideas, so to overcome this, we should support those few people in the organization that have the courage to put their career and reputation on the line for an unproven idea.
Adrian Slywotsky (1996) showed how changes in the business environment are reflected in value migrations between industries, between companies, and within companies. He claims that recognizing the patterns behind these value migrations is necessary if we wish to understand the world of chaotic change. In "Profit Patterns" (1999) he describes businesses as being in a state of strategic anticipation as they try to spot emerging patterns. Slywotsky and his team
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