Different aspects of strategy → content, process, and context
Content = what a good strategy should be, very prescriptive
Process = how strategy is coming to being, less prescriptive, more descriptive
Context = does the environment affect the first two (content & process), very descriptive
It’s a sort of continuous.
1
,2 important theories of strategy in week 1 → Positioning Theory & Resource-Based View.
Looking at a company and seeing whether these two theories are at all relevant in describing
the situation of the company, how they can help you analyze the whole organization and
understand what’s going on in the case → workgroups.
2
,The elephant in the dark room/elephant and blind people. Depending on where they were
standing/touching, they were having different understandings of the animal and came up with
different conclusions. Strategy is almost the same because there are different perspectives
to strategy, depending on their angle.
Managers often call the sentences above a strategy but it’s wrong if you see a strategy as an
action because a strategy is a plan of actions.
Goal = be unique and create value as an organization.
3
, 500 before Christus Sun Tzu wrote one of the first strategy books, named the art of war. He
was a Chinese legendary commander who was developing different generic strategies for
different types of battles. The plan of action was that his team would formulate it for him, and
update it during the way = strategy for winning (war). So, strategy is not only a business
word.
Why do you need a strategy? To achieve their goal. What was the goal? Creating value. How
do firms create value? With their resources (individual-level/film-level).
Assets = activa.
In reality, it is different.
4
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 noahvandewater. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.35. You're not tied to anything after your purchase.
