Summary
Strategy and Organisation Chapter 1 Summary: Introducing Strategy
- Course
- Institution
A detailed summary of chapter 1 of the book: Strategy and Organisation of Utrecht University.
[Show more]
Seller
Follow
lbuu
Reviews received
Content preview
Chapter 1: Introducing strategyStrategy is about the key issues for the future of organisations. There are
different definitions of strategy which all focus on distinct elements of
strategy.
"The determination of long-run goals and objectives of an enterprise and the
adoption of courses of action and the allocation of resource necessary for
carrying out these goals." -Alfred D. Chandler
Strategy is the long-term direction of an organisation
The long-term: Strategies are typically measured over years, for some
organisations a decade or more. Timescales may differ, but managers
need to avoid focusing on short-term issues of their existing activities
and have a long-term perspective.
Strategic direction: Over the years, strategies follow a long-term
direction. Sometimes a strategic direction only emerges as a coherent
pattern over time. Typically managers and entrepreneurs try to set the
direction of their strategy according to long-term objectives. The
objectives behind strategic direction always need close examination.
Organisation: Organisations involve complex relationships, both
internally and externally. This is because organisations often have
many internal and external stakeholders, people and groups that
depend on the organisation and upon which the organisation itself
depends.
Levels of strategy
Corporate-level strategy is concerned with the overall scope of an
organisation and how value is added to the constituent businesses of the
organisational whole. Being clear about corporate-level strategy is
important; determining the range of businesses to include is the basis of
other strategic decisions, such as acquisitions and alliances.
Business-level strategy is about how the individual businesses should
compete in their particular markets. This typically concerns issues such as
innovation, appropriate scale and response to competitors' moves. Where
the businesses are units within a larger organisation, business-level
strategy should clearly fit with corporate-level strategy.
Operational strategies are concerned with how the components of an
organisation deliver effectively the corporate- and business-level
strategies in terms of resources, processes and people. Successful
business strategies depend to a large extent on decisions that are taken
at the operational level.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lbuu. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.26. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now