Summary
Summary strategic planning 3A (MNG3701)
- Institution
- University Of The Freestate (UFS)
Notes about MNG3701. Understand your way through it to manage the business world.
[Show more]
Seller
Follow
Content preview
,, 1
Copyright © 2015. Juta and Company. All rights reserved. May not be reproduced in any form without permission from the publisher, except fair uses permitted under U.S.
INTRODUCING THE
PRACTICE OF STRATEGY
Peet Venter
learning After reading this chapter, you should be able to do the following:
■■ Explain why strategic management is important to the
outcomes organisation.
■■ Define ‘strategy’ and ‘strategic management’.
■■ Describe the nature of strategic decisions.
■■ Explain what success means in strategic terms.
■■ Differentiate between the different levels of strategy.
■■ Differentiate between emergent and deliberate strategies.
■■ Explain why a pure process perspective on strategy is not
appropriate.
key terms ■■ strategy ■■ strategy implementation
■■ competitive advantage ■■ strategic control
■■ strategic management ■■ strategising
■■ strategy formulation ■■ strategists
case Steve Jobs1
study Behind the phenomenal success of Apple Inc. is the late Steve Jobs, one
of the most admired business leaders of all time. Phrases and words like
‘the rock star of technology’, ‘irreplaceable’, ‘visionary’ and ‘the best CEO
that ever lived’ have been used to describe Jobs. Yet above all, Steve
Jobs was also fallible. As his biographer Walter Isaacson noted, ‘He was
not a model boss or human being, tidily packaged for emulation. Driven
by demons, he could drive those around him to fury and despair. But
his personality and passions and products were all interrelated, just as
Apple’s hardware and software tended to be, as if part of an integrated
or applicable copyright law.
system.’
Jonathan Ive, VP of industrial design at Apple, worked closely
with Jobs and was the design wizard behind the iPhone and other
successful Apple products. He was named top designer in technology
by FORTUNE and was described by Jobs as follows:
EBSCO Publishing : eBook Collection (EBSCOhost) - printed on 2/13/2017 7:59 AM via UNISA
AN: 932462 ; Venter, Peet.; Practising Strategy : A Southern African Context
Practising Strategy.indb 1 12/9/2014 9:08:26 AM
Account: s7393698
, Copyright © 2015. Juta and Company. All rights reserved. May not be reproduced in any form without permission from the publisher, except fair uses permitted under U.S.
‘He understands what we do at our core better than anyone … if I had
a spiritual partner at Apple, it’s Jony.’ Yet this successful and productive
relationship was not always plain sailing. Ive would be particularly
displeased when Jobs presented design ideas as his own: ‘[Jobs] will go
through a process of looking at my ideas and say, “That’s no good. That’s
not very good. I like that one.” And later I will be sitting in the audience and
he will be talking about it as if it was his idea. I pay maniacal attention to where
an idea comes from, and I even keep notebooks filled with my ideas. So it hurts
when he takes credit for one of my designs.’
Despite the occasional friction, however, Ive held Jobs in high regard,
crediting him with providing the motivation and drive to turn ideas into
reality. In turn, Jobs claimed to have entrusted Ive with more freedom
and operational power than anyone else at Apple. The partnership
certainly was very productive, with Jobs and Ive sharing credit for over
200 patents.
Organisations generally have an imperative to survive and to perform
chapter
above the average. The study of strategic management focuses on how
orientation organisations achieve this competitive advantage, in other words how
they achieve superior performance and sustainability in the long run.
However, as the case study on Steve Jobs suggests, the role of people in
influencing strategy in the organisation cannot be underestimated.
In this chapter, we review the origins of strategic management, explain
the traditional process perspective of strategic management, discuss the
new perspectives on strategy that influence our thinking about strategic
management, describe strategic management as we see it today, and
introduce our approach to this book.
The origins of strategic management
The traditional strategic management process
New perspectives on strategic management
or applicable copyright law.
Strategic management today
A contemporary strategic management framework
2
EBSCO Publishing : eBook Collection (EBSCOhost) - printed on 2/13/2017 7:59 AM via UNISA
AN: 932462 ; Venter, Peet.; Practising Strategy : A Southern African Context
Practising Strategy.indb 2 12/9/2014 9:08:26 AM
Account: s7393698
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kgodisotheophilus. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R133,00. 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 summaries for 14 years now