100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Summary SHORT RESUME ORGANISATION AND ENVIRONMENT 2023 $6.96   Add to cart

Summary

Summary SHORT RESUME ORGANISATION AND ENVIRONMENT 2023

 4 views  0 purchase
  • Course
  • Institution

PASS YOUR EXAM with this brief summary of the 2nd year course Marketing for Business Administration. It contains all the important material you need to know before the exam.

Preview 2 out of 10  pages

  • June 10, 2023
  • 10
  • 2022/2023
  • Summary
avatar-seller
Lecture 1 – Introduction
O&E is about ten ways to formulate strategy

Prescriptive schools = how strategy should be made, rules and how to use it
Descriptive schools = how strategy is made

5P’s: strategy requires five definitions:
 Plan (consciously intended direction, move from present state to future state)
 Pattern (recognizable similar actions that emerge over time)
 Position (location in imaginary landscape of competitive environment)
 Perspective (organization’s fundamental way of doing things)
 Ploy (specific maneuver intended to fight a competitor – power school)

Deliberate strategy = strict focus on planned direction to get desired things done
Emergent strategy = adjustable, flexible goals in strategy
Umbrella strategy = broad outlines are deliberate, while details can emerge

Perspectivism = taking different perspectives in tackling a problem

Lecture 2 – Design school
Design school = strategy formation by one strategist, later explicitly implemented

Characteristics:
 Strategy formation as a process of conception, deliberate process of thought
 One person develops strategy, one strategist: the CEO
 Process of strategy formation should be simple and informal
 Match or fit between internal capabilities and external possibilities (SWOT)
 Strategy design process is complete when strategy formulated as perspective,
no room for incrementalistic or emergent strategies
 Strategy is explicit, so people can read about it

Evaluation of strategy in design school:
 Consistency (strategy must present mutually consistent goals and policies)
 Consonance (strategy have adaptive response to external environment)
 Advantage (strategy must create and maintain competitive advantage)
 Feasibility (strategy must not overtax available resources and not create
unsolvable subproblems)

Process: internal and external analysis  formulation of strategy (influenced by
managerial values and social responsibilities)  implementation
So: structure follows strategy: thinking and acting are separate processes!

Assumptions:
 Economic man = strategist has complete and perfect information and foresight
 Strategist has mental and cognitive capacity to accurately process al info
 Environment can always be understood
 Situations and environment are predictable
 All information is documented and available
 Strategy is centrally formulated

,  Most applicable for large, old, established organizations (bc stable
environment) or young entrepreneurial, depends on timing

Criticism:
 Capacity to learn is ignored (during strategy formation important to learn)
 Structure follows strategy is unrealistic, not change whole structure of org
 This school promotes inflexibility bc hierarchal, centralized, explicit strategy
 Assumption of universality is wrong, there is not one best way for strategy
 Detachment of thinking from acting, strategy forming is more a process
 Strategist is unlikely to have all and perfect information, and capacity
Marketing myopia = only seeing yourself as just selling product, not satisfying need
Marketing hyperopia = worrying about future so much, not focused on selling now
Marketing macropia = overly broad view of your industry, trying too hard

Lecture 3 – Planning school
Planning school = strategy as a result of formal procedures, training, analysis

Characteristics:
 Full-blown, detailed, and explicit strategies are formulated
 CEO is responsible for overall formation process, staff planners for execution
> in reality: CEO only approves strategies, planners are major players
 Clear focus on the future; scenario thinking; real options
 Strategy formation is supported by checklists and analytical techniques, it is
way more complex with elaborated steps (while in design school it’s simple)
> machine assumption = produce everything according to book, that results
 Rational and systematic approach to strategy making (influenced by
scientific management: no room for values or judgement)
 Planning and implementation are separate, consecutive steps
 There is interaction with the environment (while in DS navigate through env.)

Process: objective-setting  internal and external analysis  evaluation 
operationalization and scheduling

Scenario planning = speculating on varieties of future, so that organization can
prepare itself, breaking the habit that future will look like present or past
Real options = managerial flexibility to adapt and revise future decisions, they are
used in uncertain and changing environments. It is based on financial options.
Strategic control = divisions are responsible for strategy, but must be approved and
monitored by headquarters
> parenting metaphor = headquarters are parents that control business (children),
parent advices and balances with control and discipline

Left-handed planners = encourage strategic creative thinking, emergent strategies
Right-handed planners = formal strategy analysis, clearly intended strategy

Assumptions:
 Organizations are like machines
 Organizations have a clear system of values, competencies, reward system
 Environment is stable and predictable

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 camielhitters. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $6.96. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67474 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$6.96
  • (0)
  Add to cart