nach oben

Erschienen in:

2021 | OriginalPaper | Buchkapitel

3. A Brief Overview of the Firm’s Strategy

verfasst von : Tankiso Moloi, Tshilidzi Marwala

Erschienen in: Artificial Intelligence and the Changing Nature of Corporations

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

This chapter provides a high-level overview of strategy by discussing the historical account of strategy, followed by a discussion aimed at understanding the concept of strategy. It further outlines and discusses processes that firms ought to engage in as they formulate strategy. From the discussions, it is apparent that strategy has long existed within living organisms. Strategy as a concept emanated from the need of the people to defeat their adversaries. The concept of strategy can be traced back to the period between 200 B.C. and 400 B.C. The first text that emphasised strategy was The Art of War by Sun Tzu, which was written between 400 B.C. and 500 B.C. From the business perspective, strategy refers to a way in which firms explain to their stakeholders how they will be moving forward. The firm strategy is generally viewed as a course of action that can help the firm in attaining their objectives. There are three aspects of strategy formulation. These are the corporate-level strategy, the competitive strategy (sometimes called the business strategy) and the parenting strategy. The growth or directional strategy outlines the growth objective of the firm and mainly on how to achieve this growth. The portfolio strategy outlines the portfolio of the lines of the firm, which assist in the diversification that the business should engage in. The parenting strategy explains how resources are allocated and managed, especially on areas to put more emphasis on. Strategy consists of three phases, namely, the diagnosis, formulation and implementation.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 390 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Maschinenbau + Werkstoffe

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel A High-Level Overview of Artificial Intelligence: Historical Overview and Emerging Developments

Nächstes Kapitel Strategy Implementation

Ackoff, R. (1974). Redesigning the future. New York: Wiley. isbn:04-7100-296-8.

Agarwal, R., & Ansell, J. (2016). Strategic change in enterprise risk management. Briefings in Entrepreneural Finance. https://doi.org/10.1002/jsc.2072.

Andrews, K. R. (1971). Concept of corporate strategy. Homewood, IL: Irwin.

Andrews, K. R. (1999). The concept of corporate strategy. New York, NY: Primis Custom Pub.

Ansoff, H. (1965). Corporate strategy: An analytic approach to business policy for growth and expansion. New York: McGraw-Hill. ISBN 00-7002-111-2.

Ansoff, H. (1979). Strategic management. London: Macmillian. ISBN 04-7026-585-X.CrossRef

Bartholmé, R. H., & Melewar, T. C. (2016). The end of silence? Qualitative findings on corporate auditory identity from the UK. Journal of Marketing Communications, 22(4), 419–436. (Abingdon: Taylor & Francis, ISSN 1352-7266, ZDB-ID 1317851-9).CrossRef

Bilgili, B., Özkulb, E., & Candan, B. (2016). An outlook on “all inclusive” system as a product diversification strategy in terms of consumer attitudes. 12th international strategic management conference, ISMC 2016, 28–30 October 2016, Antalya, Turkey.

Binladen, H., & Al-Ashaab, A. 2017. Strategy formulation process in large family-based businesses. Available at http://www.iaras.org/iaras/journals/ijems

Bordean, O. N., Borza, A., Rus, C., Bordean, O., Borza, A., Rus, C. and Mitra, C. 2010. An investigation on the strategy formulation process within the Romanian companies. Available at https://www.researchgate.net/publication/254392092

Borrero, S., Acosta, A., & Medina, A. F. (2020). Culture, strategy formulation, and firm performance: A meta-analysis. Academia Revista Latinoamericana de Administracion, 33(1), 147–176. https://doi.org/10.1108/ARLA-01-2018-0013.CrossRef

Bracker, J. (1980). The historical development of the strategic management concept. Academy of Management Review, 5(1), 219–224. ISSN 0363-7425.

Budiman, Y., Amar, M., Sanusi, A., & Ariesca Riana, M. (2020). Strategy formulation for performance improvement of the artificial insemination program in Sinjai regency. IOP Conference Series: Earth and Environmental Science, 575(1), 012233. https://doi.org/10.1088/1755-1315/575/1/012233.CrossRef

Cannon, J. (1968). Business strategy and policy. New York: Harcourt, Brace & World. ISBN 65-4317-252-0.

Chandler, A. (1962). Strategy and structure: Chapters in the history of the American industrial enterprise. Cambridge: MIT Press. ISBN 15-8798-198-X.

Collis, D., & Montgomery, C. (2005). Corporate strategy: A resource-based approach. Boston, MA: Irwin McGraw-Hill.

Davidson, S., Harmer, M., & Marshall, A. (2015). Strategies for creating and capturing value in the emerging ecosystem economy. Strategy and Leadership, 43(2), 2–10. https://doi.org/10.1108/SL-01-2015-0003.CrossRef

Dayan, R., Heisig, P., & Matos, F. (2017). Knowledge management as a factor for the formulation and implementation of organization strategy. Journal of Knowledge Management, 21(2), 308–329. https://doi.org/10.1108/JKM-02-2016-0068.CrossRef

Drnevich, P. L., & Croson, D. C. (2013). Information technology and business level strategy. MIS Quarterly, 37(2), 483–509.CrossRef

Drucker, P. (1954). The practice of management. New York: Harper & Brothers. ISBN 00-6091316-9.

Furrer, O. (2013). Business policy and corporate strategy. Available at https://www.researchgate.net/publication/236694166

Glueck, W. (1976). Business policy, strategy formation, and management action (2nd ed.). New York: McGraw-Hill. ISBN 00-7023-514-7.

Henderson, B. D. (1989). The origins of strategy. Harvard Business Review. Available at https://hbr.org/1989/11/the-origin-of-strategy?registration=success

Hendry, K., & Kiel, G. C. (2004). The role of the board in firm strategy: Integrating agency and organisational control perspectives. Corporate Governance: An International Review, 12(4), 500–520. https://doi.org/10.1111/j.1467-8683.2004.00390.x.CrossRef

Horwath, R. (2006). The origin of strategy. Strategic Thinking Institute. Available at https://www.strategyskills.com/Articles/Documents/origin_strategy.pdf

Horwath, R. (2020). The origin of strategy. Strategic Thinking Institute. Available at https://www.strategyskills.com/the-origin-of-strategy/#:~:text=The%20term%20%E2%80%9Cstrategy%E2%80%9D%20is%20derived,Greek%20ever%20used%20the%20word.&text=Igor%20Ansoff%20(Corporate%20Strategy%2C%201965,to%20give%20it%20a%20name

Ivančić, V., Jelenc, L., & Mencer, I. (2018). The strategy formulation – Implementation relationship and the leaders role during the implementation process.

Jacobs, D., & de Man, A. P. (1996). Clusters, industrial policy and firm strategy: A menu approach. Technology Analysis and Strategic Management, 8(4), 425–438. https://doi.org/10.1080/09537329608522461.CrossRef

Klettner, A., Clarke, T., & Boersma, M. (2014). The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy. Journal of Business Ethics, 122, 145–165. https://doi.org/10.1007/s10551-013-1750-y.CrossRef

Kolosova, I. I., & Sidorov, I. V. (2018). Principles of Formation of Filling Station Spatial Environment Abroad. Vestnik Tomskogo Gosudarstvennogo Arkhitekturno-Stroitel’nogo Universiteta. Journal of Construction and Architecture, 2, 61–75. https://doi.org/10.31675/1607-1859-2018-20-2-61-75.

Lambaerts, P. (2017) The strategy formulation practices of a newly appointed top management team. Masters Thesis, JAMK University of Applied Sciences. Available at https://core.ac.uk/download/pdf/84799083.pdf

Learned, E., Christensen, R., Andrews, K., & Guth, W. (1969). Business policy: Text and cases. Homewood, IL: Irwin. ISBN 76-1459-813-0.

Lechner, C., & Gudmundsson, S. V. (2014). Entrepreneurial orientation, firm strategy and small firm performance. International Small Business Journal: Researching Entrepreneurship, 32(1), 36–60. https://doi.org/10.1177/0266242612455034.CrossRef

Leong, L., & Jarmoszko, A. (2010). Analyzing capabilities and enterprise strategy: A value proposition framework. International Journal of Management & Information Systems (IJMIS), 14(1), 53–60.

Mainardes, E.W.; Ferreira, J.J. and Raposo, M.L. 2014. Strategy and strategic management concepts: Are they recognised by management students. Ekonomika a Management. Available at http://legado.fucape.br/_public/producao_cientifica/2/Strategy%20And%20Strategic.pdf

McCarthy, D., Minichiello, R., & Curran, J. (1975). Business policy and strategy: Concepts and readings. Homewood, IL: Irwin. ISBN 02-5601-680-1.

McNichols, T. (1977). Policy making and executive action (5th ed.). New York: McGraw-Hill. ISBN 00-7045-688-7.

Michel, K. (1976). Design of an intrafirm management development programme for strategic managers. In H. Ansoff, R. Declerck, & R. Hayes (Eds.), From strategic planning to strategic management (pp. 152–171). London: Wiley. ISBN 04-7103-223-9.

Mintzberg, H. (1979). The structuring of organizations. Englewood Cliffs, NJ: Prentice-Hall. ISBN 01-3855-270-3.

Mintzberg, H., & Quinn, J. (1991). The strategy process: Concepts, contexts and cases (2nd ed.). Englewood Cliffs, NJ: Prentice-Hall. ISBN 01-3851-916-1.

Mintzberg, H., & Waters, J. (1985). Of strategies, deliberate and emergent. Strategic Management Journal, 6(3), 257–272.CrossRef

Mitchell, R. C. 2009. Strategy formulation. Available at: https://resources.saylor.org/wwwresources/archived/site/wp-content/uploads/2013/04/BUS300-2.3_Strategy-Formulation.pdf

Nagy, J., & Fawcett, S. B. (n.d.). Chapter 8: Section 4. Developing successful strategies: Planning to win. Available at https://ctb.ku.edu/en/table-of-contents/structure/strategic-planning/develop-strategies/main

Newman, W., & Logan, J. (1971). Strategy, policy and central management. Cincinnati: South-Western Publishing. ISBN 00-2072-409-0.

NGOBG. (2001). Strategic planning handbook. Available at https://www.ngobg.info/bg/documents/49/753sphand.pdf

Nwachukwu, C., Chladkova, H., & Fadeyi, O. (2018). Strategy formulation process and innovation performance nexus. International Journal for Quality Research, 12(1), 147–164. https://doi.org/10.18421/IJQR12.01-09.

Oyedele, A. F., Sotunde, O. A., Oyedele, O. O., Oladokun, O. O., Makinde, K. O., & Fabinu, B. T. (2019). The relationship of strategy formulation, adoption, and implementation to small scale market share performance. The Pacific Journal of Science and Technology, 20(2), 141. http://www.akamaiuniversity.us/PJST.htm.

Paine, F., & Naumes, W. (1975). Strategy and policy formation: An integrative approach. Philadelphia: Saunders. ISBN 47-2938-411-0.

Pearce, J. A., & Robinson, R. B. (2011). Strategic management: Formulation, implementation and control. New York: McGraw Hill.

Pitt, C. S., & Treen, E. (2017). Understanding communication in disaster response: A marketing strategy formulation and implementation perspective. Journal of Public Affairs, 17(3), e1639. https://doi.org/10.1002/pa.1639.CrossRef

Porter, M. (2008). Competitive advantage: Creating and sustaining superior performance. New York, NY: Simon and Schuster.

Rennison, L., Novin, F., & Verstraete, M. (2014). Firm strategy, competitiveness and productivity: The case of Canada. Available at https://www.bankofcanada.ca/wp-content/uploads/2014/11/boc-review-autumn14-rennison.pdf

Satyro, W. C., Sacomano, J. B., Contador, J. C., Almeida, C. M. V. B., & Giannetti, B. F. (2017). Process of strategy formulation for sustainable environmental development: Basic model. Journal of Cleaner Production, 166, 1295–1304. https://doi.org/10.1016/j.jclepro.2017.08.128.CrossRef

Saylor, O. (2013). The Saylor Foundation. Available at: www.saylor.org/bus208

Schendel, D., & Hatten, K. (1972). Business policy or strategic management. In Mitchell, V., Barth, R., & Mitchell, F. (Eds.). Academy of management proceedings (pp. 56–72). Boston: Little Brown. ISSN 0896-7911.

Sminia, H. (2009). Process research in strategy formation: Theory, methodology and relevance. International Journal of Management Reviews, 11(1), 97–125.CrossRef

Steiner, G., & Miner, J. (1977). Management policy and strategy: Text, readings and cases. New York: Macmillan. ISBN 00-2416-750-9.CrossRef

Steyn, B., & Niemann, L. (2010). Enterprise strategy: A concept that explicates corporate communication’s strategic contribution at the macro-organisational level. Journal of Communication Management, 14(2), 106–126. https://doi.org/10.1108/13632541011034574.CrossRef

Syed, M. (2014). Brazil’s buckling revealed dark side of human psyche. Available at https://www.thetimes.co.uk/article/brazils-buckling-revealed-dark-side-of-human-psyche-fm3hqgx62gq

Thaha, A. R. (2015). Business strategy formulation and implementation for CETAKBDG. Available at https://www.researchgate.net/publication/328118116_BUSINESS_STRATEGY_FORMULATION_AND_IMPLEMENTATION_FOR_CETAKBDG

Uyterhoeven, H., Ackerman, R., & Rosenblum, J. (1973). Strategy and organization: Text and cases in general management. Homewood, IL: Irwin. ISBN 02-5601-923-1.

Von Neumann, J., & Morgenstern, O. (1947). Theory of games and economic behaviour (2nd ed.). Princeton: Princeton University Press. ISBN 06-9100-362-9.

Wheelen, T. L., & Hunger, J. D. (2012). Strategic management and business policy: Toward global sustainability (13th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.

Wooldridge, B., & Floyd, S. W. (1990). The strategy process, middle management involvement, and organizational performance. Strategic Management Journal, 11, 231–241.CrossRef

Yang, M. J., Kueng, L., & Hong, B. (2015). Business strategy and the management of firms. NBER Working Paper. Available at http://www.nber.org/papers/w20846

Zerfass, A., & Viertmann, C. (2017). Creating business value through corporate communication: A theory-based framework and its practical application. Journal of Communication Management, 21(1), 68–81. https://doi.org/10.1108/JCOM-07-2016-0059.CrossRef

Titel: A Brief Overview of the Firm’s Strategy
verfasst von: Tankiso Moloi
Tshilidzi Marwala
Verlag: Springer International Publishing
Buch: Artificial Intelligence and the Changing Nature of Corporations
Print ISBN: 978-3-030-76312-1

Electronic ISBN: 978-3-030-76313-8

Copyright-Jahr: 2021
DOI: https://doi.org/10.1007/978-3-030-76313-8_3

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Technik"

Springer Professional "Wirtschaft"

Premium Partner