Literature Review on What Is Strategy
Introduction:
Strategy and management is one of the prominent and most discussed topic in the organization and business studies. Organizations today are challenged by many factors both internal and external and need to effectively address such, which makes only possible by the organization effective leader and their strategic view to overcome and take their company into profitable, competitive, innovative and change. Further, the shift of organization from being local onto global and so the factors of cross-cultural, internationalization cross-disciplinary knowledge of geo-economy, politics, business, market, volatile competition, wide range of customer, and other globalization factors brings further complexity and encounters, hence urgency of more robust leadership, strategy and creative approaches is at forefront than anytime in the history; to struggle and compete this dynamic challenges.
In the Michael Porter (1996) literature ‘what is strategy’; one of the concept of the organization strategy can be understood as being “different” from the competitors and so with the different end outcome and added value to the organization as a long-term advantages. It means that, an industry or organization could be operated in a different way than it`s competitor, which will allow to achieve long-term value creation. In other words; strategy can be understood as, what are the organization unique positions in order to achieve organizational effectiveness, and competitive advantages at the end of the day.
The author argues that; strategy can significantly be divided in a wider way of doing things. As a competitive way of thinking, industry has its own-target area and ways of doing the business, for example; defined vision and goals, particular business activities, objectives, niche customer, differentiated product or service, market segments, key technological drivers, different approach on marketing, and so forth. Also each company has its own rivals, key market
Strategy and management is one of the prominent and most discussed topic in the organization and business studies. Organizations today are challenged by many factors both internal and external and need to effectively address such, which makes only possible by the organization effective leader and their strategic view to overcome and take their company into profitable, competitive, innovative and change. Further, the shift of organization from being local onto global and so the factors of cross-cultural, internationalization cross-disciplinary knowledge of geo-economy, politics, business, market, volatile competition, wide range of customer, and other globalization factors brings further complexity and encounters, hence urgency of more robust leadership, strategy and creative approaches is at forefront than anytime in the history; to struggle and compete this dynamic challenges.
In the Michael Porter (1996) literature ‘what is strategy’; one of the concept of the organization strategy can be understood as being “different” from the competitors and so with the different end outcome and added value to the organization as a long-term advantages. It means that, an industry or organization could be operated in a different way than it`s competitor, which will allow to achieve long-term value creation. In other words; strategy can be understood as, what are the organization unique positions in order to achieve organizational effectiveness, and competitive advantages at the end of the day.
The author argues that; strategy can significantly be divided in a wider way of doing things. As a competitive way of thinking, industry has its own-target area and ways of doing the business, for example; defined vision and goals, particular business activities, objectives, niche customer, differentiated product or service, market segments, key technological drivers, different approach on marketing, and so forth. Also each company has its own rivals, key market
References: Murray, I. A (1988) A Contingency View of Porter 's "Generic Strategies" University of Alberta, Academy of management Review Vol. 13, No. 3 PP 390-392. Mintzberg, H (1994) The fall and rise of strategic planning. Harvard Business Review, 107-114 Steve Jobs’ Strategic Vision, June 6, 2012, Andrea hill, Harvard Business School.Available on (http://footnote1.com/steve-jobs%E2%80%99s-strategic-vision/) Accessed on 26/01/13 Andrews K.R, 1998, the concept of corporate strategy, Revised European Edition. Porter, M. (1996) ‘What is Strategy?’, Harvard Business Review, v74 (6) Nov-Dec, pp. 61-78.