Week 2

WEEK 2

A)

Strategic management captures definition of two main elements that goes to the heart of the field of strategic management. It consists of decision, actions and analysis an organization takes in order to sustain and develop competitive advantages.

According to Henry Mintzberg strategic management is much more fluid and unpredictable than we think . He instead proposed different types of strategies for example , strategy can be managed as a plan , ploy , pattern ,position and as perspective .

B)

The similarities between business strategy and military strategy are that both follow a certain chain of command from their superiors and they create and develop strategic plans. In both cases there is always a risk factor involved as risk has to be taken to implement and foresee a strategic decision.

It is different in the sense that the objectives and the vision, mission is different in both business and military strategies.

C)

In simple terms strategic analysis is the process of building a strategy for any business organization by conducting research analysis and evaluating the  environment in which the business operates .

Strategic development is the step taken after the business analyzes all the situations and scenario. It is a system used to drive a business organization by developing a vision of what the business should do and then applying ideas to achieve a goal .

In simple terms strategic implementation is the process in which the strategies , ideas , plans and policies are put into action . It is the process in which the strategies are executed or operationalized .

D)

Today’s case study was very effective in terms of incurring the main idea from the paragraph was interesting. Initially it was a bit hard to grasp the ideas from the paragraph but later on we had a certain idea about it. Our group got along with each other quite well and every member agreed with the

respective answers .

 References:

 ·        Collis, D. J. & Montgomery, C. A. 1998. Creating corporate advantage, Harvard Business Review, 76(3):71–83; Saatchi & Saatchi. 2001.

·         Campbell, A., Goold, M. & Alexander, M. 1995. Corporate strategy: The quest for parenting advantage. Harvard Business Review, 73 (2):120–32; and Picken & Dess, op. cit.

·         Kohli A K, Jaworski B J (1990)  'Market Orientation: The Construct, Research Propositions, and Managerial Implications’ Journal of Marketing, Vol. 54, No. 2, pp. 1-18

·         www.militarytobusinessmentor.com

          [Military to Business Mentor.com, accessed on 20th November, 2012]