Summary Notes on Unit 10 - Problems with strategy pt 1
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Course
Unit 10 - Managing strategic change
Institution
AQA
These notes talk about what a strategy is and the difficulties that might be faced with trying to implement a strategy into a business. Also talks about the difference between planned and emergent strategy.
Problems with strategy and why strategies fail 13/12/2022
Strategy – medium to long term plan for how you meet your business objectives.
Always involve risk and uncertainty
Difficulties include:
Unforeseen circumstances
Changing external environment
Difficult to predict competitor’s actions or threat of new entrants into the market.
Changing nature of the global market
Lack of knowledge and expertise
Poor leadership
Poor management of resources
Resistance for change by the workforce
Brand dilution
Planned vs emergent strategy
Planned strategy:
Introduced with foresight
The strategy is the one the manager wanted to implement
Provides a clear sense of direction
Easily communicated
However may lack flexibility
Emergent strategy:
Developed over time
Responds to change in the internal and external environment
Greater flexibility
May create a feeling of mistrust amongst stakeholders due to frequent revisions
leading to lack of confidence.
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