Strategic management

business strategycorporate strategystrategystrategicbusiness strategiescompetitive strategystrategiesStrategic enterprise managementbusiness strategistcorporate strategies
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.wikipedia
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Strategic planning

strategic planstrategic plansbusiness objectives
Strategic management involves the related concepts of strategic planning and strategic thinking.
Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management.

Igor Ansoff

H. Igor AnsoffHarry Igor AnsoffAnsoff
Igor Ansoff built on Chandler's work by adding concepts and inventing a vocabulary.
He is known as the father of strategic management.

Strategic thinking

StrategyFutures Thinkingthinking strategically
Strategic management involves the related concepts of strategic planning and strategic thinking.
When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization.

Kenneth R. Andrews

Kenneth AndrewsKenneth R Andrews
This core idea was developed further by Kenneth R. Andrews in 1963 into what we now call SWOT analysis, in which the strengths and weaknesses of the firm are assessed in light of the opportunities and threats in the business environment.
Kenneth Richmond Andrews (May 24, 1916 – September 4, 2005), was an American academic who, along with H. Igor Ansoff and Alfred D. Chandler, was credited with the foundational role in introducing and popularizing the concept of business strategy.

Cost leadership

Porter wrote in 1980 that strategy target either cost leadership, differentiation, or focus.
In business strategy, cost leadership is establishing a competitive advantage by having the lowest cost of operation in the industry.

PEST analysis

PESTPESTLEPESTLE analysis
PEST analysis (political, economic, socio-cultural and technological) describes a framework of macro-environmental factors used in the environmental scanning component of strategic management.

Complexity theory and organizations

complexity theorycomplexity studiesComplexity theory and organisations
Some business planners are starting to use a complexity theory approach to strategy.
Complexity theory and organizations, also called complexity strategy or complex adaptive organizations, is the use of the study of complexity systems in the field of strategic management and organizational studies.

Growth–share matrix

Growth-share matrixBCG matrixB.C.G. Analysis
The concept of the corporation as a portfolio of business units, with each plotted graphically based on its market share (a measure of its competitive position relative to its peers) and industry growth rate (a measure of industry attractiveness), was summarized in the growth–share matrix developed by the Boston Consulting Group around 1970.
This helps the company allocate resources and is used as an analytical tool in brand marketing, product management, strategic management, and portfolio analysis.

Alfred D. Chandler Jr.

Alfred D. Chandler, Jr.Alfred ChandlerAlfred D. Chandler
Alfred Chandler recognized the importance of coordinating management activity under an all-encompassing strategy.
His book Strategy and Structure: Chapters in the History of the Industrial Enterprise (1962) examined the organization of E.I. du Pont de Nemours and Company, Standard Oil of New Jersey, General Motors, and Sears, Roebuck and Co. He found that managerial organization developed in response to the corporation's business strategy.

Value chain

value-added chainIndustry Level Value Chainsupporting value chains
Porter revised the strategy paradigm again in 1985, writing that superior performance of the processes and activities performed by organizations as part of their value chain is the foundation of competitive advantage, thereby outlining a process view of strategy.

Organization

organisationorganizationsorganisations
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.

Management

managerBusiness Managementmanagers
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
At the graduate level students aiming at careers as managers or executives may choose to specialize in major subareas of management or business administration such as entrepreneurship, human resources, international business, organizational behavior, organizational theory, strategic management, accounting, corporate finance, entertainment, global management, healthcare management, investment management, sustainability and real estate.

David Teece

David John TeeceProfessor David TeeceTeece, David J.
David Teece pioneered research on resource-based strategic management and the dynamic capabilities perspective, defined as “the ability to integrate, build, and reconfigure internal and external competencies to address rapidly changing environments". His 1997 paper (with Gary Pisano and Amy Shuen) "Dynamic Capabilities and Strategic Management" was the most cited paper in economics and business for the period from 1995 to 2005.
His areas of interest include corporate strategy, entrepreneurship, innovation, competition policy, and intellectual property.

Business process re-engineering

business process reengineeringreengineeringefficiency expert
In a process that they labeled reengineering, firm's reorganized their assets around whole processes rather than tasks.
Business process re-engineering (BPR) is a business management strategy, originally pioneered in the early 1990s, focusing on the analysis and design of workflows and business processes within an organization.

Scenario planning

scenarioscenariosScenario Method
A number of strategists use scenario planning techniques to deal with change.

Michael Porter

Michael E. PorterMike PorterPorter
Michael Porter identifies three principles underlying strategy:

Goal

objectiveobjectivesvision
Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans.

Balanced scorecard

balanced scorecard (BSC)Scorecardscorecarding
Tools such as the balanced scorecard and strategy maps help crystallize the strategy, by relating key measures of success and performance to the strategy.
The first versions of Kaplan and Norton's interpretation of the balanced scorecard asserted that relevance should derive from the corporate strategy, and proposed design methods that focused on choosing measures and targets associated with the main activities required to implement the strategy.

Strategy

strategicstrategiesStrategic thought
Strategy is defined as "the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals."

Porter's five forces analysis

Porter five forces analysisPorter 5 forces analysis5 forces model
In five forces analysis he identified the forces that shape the industry structure or environment.
Porter makes clear that for diversified companies, the primary issue in corporate strategy is the selection of industries (lines of business) in which the company will compete.

Horizontal integration

horizontalhorizontal mergerhorizontally integrated
He developed a grid that compared strategies for market penetration, product development, market development and horizontal and vertical integration and diversification. The relative advantages of horizontal integration, vertical integration, diversification, franchises, mergers and acquisitions, joint ventures and organic growth were discussed.

Mergers and acquisitions

mergermergedM&A
The relative advantages of horizontal integration, vertical integration, diversification, franchises, mergers and acquisitions, joint ventures and organic growth were discussed.
As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position.

Aggressiveness strategy

aggressive strategyAggressiveness strategiesaggressive strategies
A variety of aggressiveness strategies were developed.
Business strategies can be categorized in many ways.

Resource-based view

resourceresource-based view (RBV)capabilities
Core competency is part of a branch of strategy called the resource-based view of the firm, which postulates that if activities are strategic as indicated by the value chain, then the organization's capabilities and ability to learn or adapt are also strategic.

Peter Senge

Dr Peter Senge
In 1990, Peter Senge, who had collaborated with Arie de Geus at Dutch Shell, popularized de Geus' notion of the "learning organization".