In one of the definitions used by Pearce and Robinson, Strategic management was described as the “art and science of formulating, implementing and evaluating crossfunctional decisions aimed at achieving organizational goals”; Briefly discuss the context in which strategic management could be described as ‘an art’ and when it also could be described as ‘a science’ 2 Describe the strategy formulation process; clearly explaining three major activities that are undertaken at this stage? 3. Distinguish between business level strategies and corporate level strategies; clearly giving examples under each.
Strategic Management is a discipline that requires the continuous interrelationship among various functional managers. As a business strategy Management Trainee you are required to answer the following questions by supporting each response to detailed examples.
Required:
1. In one of the definitions used by Pearce and Robinson, Strategic management was described as the “art and science of formulating, implementing and evaluating crossfunctional decisions aimed at achieving organizational goals”; Briefly discuss the context in which strategic management could be described as ‘an art’ and when it also could be described as ‘a science’
2 Describe the strategy formulation process; clearly explaining three major activities that are undertaken at this stage?
3. Distinguish between business level strategies and corporate level strategies; clearly giving examples under each.
Step by step
Solved in 4 steps
