Strategic Management: Prescriptive and Emergent Approaches, Core Competencies and Sustainable Competitive Advantage, Porter's Five Forces Analysis

STRATEGIC MANAGEMENT

Table of Contents
INTRODUCTION.....................................................................................................................................3
SECTION 1..............................................................................................................................................3
Question 1.........................................................................................................................................3
SECTION 2..............................................................................................................................................6
Question: 2........................................................................................................................................6
Question 4:........................................................................................................................................8
CONCLUSION.......................................................................................................................................10
REFERENCES........................................................................................................................................11

INTRODUCTION
Strategic management is ongoing planning, organising, integrating and monitoring
each and every activity that organisation required in order to meet its desired goals and set of
objectives. In current scenario, the external environment is every changing in nature,
therefore it is crucial for firm to change its strategy as per situation to stay ahead in
competitive market. This report has presented crucial information pertaining to compare and
contrast the application of ‘prescriptive’ and ‘emergent’ approaches to strategy and its role in
achievement of aim. Furthermore, it has covered comparison of two analytical models for
competiveness analysis and how the core competencies helps in attaining sustainable
competitive advantages.
SECTION 1
Question 1
Compare and contrast the application of ‘prescriptive’ and ‘emergent’ approaches to
strategy and their role in the delivery of this aim
In formulation of organisation strategy, there is high complexity and uncertainty that has
to be face by manager while working in the organisation. Strategy are set of action that are
undertaken by company for achieving competitive advantages through making optimum use
of available resource, meeting the stakeholder expectancy and many more. while, formulating
a particular strategy, it is responsibility of the manager to identified and analysis the strength,
weakness, threat and opportunities of business (Fuertes and et.al., 2020). On the basis of all
these factor or element it need to take decision that could help company in achieving the end
goals.
1. Prescriptive approaches to strategy: It is the approach in which the objective,
mission, vision and value of the organisation are being clarified and defined before
implementation of strategy. In this method, the top management is being responsible
for formulating an specific strategy that could be used by firm to achieve the set goals
in limited time frame. In another words, a deliberate plan is made with intention and
priorities being set according to the top management of the organisation
(Velikorossov, and et.al., 2020). Furthermore, in this type of approach, top to down
hierarchy approach is being followed by the firm to guide employees about the way a
particular task will be completed and goals will be achieved. It is linear approach in
which first and foremost, efforts are being lead on analysis of the strategy, market

situation, on the basis of that strategy is developed and implemented. There are
various advantages as well as disadvantage of making use of perspective approach to
strategic planning that can be illustrated in detailed as follows:
 Long-term/strategic thinking: The advantage of making use of prescriptive
approach is that they contribute in long term thinking as manager incorporate each
and every activity while taking particular decision. It takes specific decision by
spending much time on analysis about what is actually happening in external
environment, what are the objective of the company. thus on the basis of all the thing
final strategy is being formulated by manager so that organisation can grow and
sustain in competitive environment (Siegel, and Leih, 2018).
 Learning from each other: Secondly, it can be stated that through making use of
prescriptive approach the employees learn from each other’s. As in this strategic
process involves harmonising and negotiation of different point of view in order to
integrate the corporate plan. Thus, it is also known as learning process.
 Coordinate efforts: Making use of prescriptive approach lead organisation in
effectively coordinating with range of individual that are belonging to different
culture, traditional and belief (Makadok, Burton and Barney, 2018). Clearly
communication of company mission, vision, values and objective among the
employees lead in motivating them to work for company expansion only.
On the contrary hand, there are some of the disadvantage of making use of prescriptive
approach such as
 It hinders creativity of individual: The biggest disadvantage of prescriptive
approach is that it hinders the creative ideas of employees that are working for growth
and expansion of business. As in this usually top- down management and organisation
structure is being followed that lead in eliminating of idea of individuals that could be
used by firm to achieve the desired outcome.
 Lack of flexibility: The second disadvantage of making use of prescriptive approach
is that it is lack flexible, as top management and strict organisation structure lead in
making difficult for company to quickly adapt its strategy as per the external
environment situation (Hitt, Arregle and Holmes Jr, 2020). Hence, it may not able to
effectively cope up with adverse situation or threat.