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Strategic Management Assignment (pdf)

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Leeds Beckett University

   

Added on  2020-04-13

Strategic Management Assignment (pdf)

   

Leeds Beckett University

   Added on 2020-04-13

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Running head: STRATEGIC MANAGEMENTStrategic ManagementName of the StudentName of the UniversityAuthor’s Note
Strategic Management Assignment (pdf)_1
1STRATEGIC MANAGEMENTTable of ContentsIntroduction.....................................................................................................1Comparison between Evolutionary and Processual School of Strategy...........2Differences...................................................................................................2Similarities....................................................................................................3Evolutionary and Processual Approach against Classical Approach................4Evolutionary and Classical School of Strategy..............................................5Processual and Classical School of Strategy.................................................7Conclusion.......................................................................................................9References.....................................................................................................11
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2STRATEGIC MANAGEMENTIntroductionIn today’s business world, Strategic Management is considered as amajor tool in order to achieve organizational goals and objectives. Strategicmanagement refers to the process to identify and describe major strategiesso that they can be used for achieving major goals of the companies (Vaaraand Whittington 2012). Thus, it is the responsibility of the organizationalmanagers to manage the organizational strategies in an effective way(Galpin and Lee Whittington 2012). There are different kinds of strategymodels for assisting the organizational managers. However, the strategymodel of Richard Whittington is unique as well as effective in its own ways.Richard Whittington has developed his strategy model by combining differentkinds of theories about strategies. Based on this analysis, he developed fourdifferent approaches for strategic management. They are shown in thefollowing diagram:Figure 1: Strategy Approaches of Whittington(Source: Marietto, Sanches and Meireles 2012)Four Perspectives of StrategyFour Perspectives of StrategyCLASSICCLASSICPROCESSUALPROCESSUALEVOLUTIONARYEVOLUTIONARYSYSTEMETICSYSTEMETIC
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3STRATEGIC MANAGEMENTThe aim of this study is to make a comparison between Evolutionary andProcessual school of strategies. After that, this study attempts to distinguishthese two approaches with the Classical strategy approach.Comparison between Evolutionary and Processual School ofStrategyIt needs to be mentioned that there are certain differences andsimilarities between Evolutionary and Processual strategy approach. Theyare discussed below:DifferencesIt needs to be mentioned that both evolutionary and processualapproaches have different beliefs. The main belief of evolutionary approachis that the world economic environment is continuously changing. For thisreason, business organizations are required to develop strategies based onthese changes so that they can maximize organizational profit (Klerkx, VanMierlo and Leeuwis 2012). However, the belief is different in case ofprocessual approach. Under processual approach, organizational managersdevelop necessary strategies by following existing rules and regulations ofthe organizations (Tavakoli, Schlagwein and Schoder 2015). According to theprinciples of evolutionary approach, it is not possible for the businessorganizations to predict the future changes in business environments(Guerras-Martín, Madhok and Montoro-Sánchez 2014). For this reason, it isnot possible for the organizational managers to develop long-term businessstrategies based on the changes in business environments. At the sametime, the principles of processual approach refuse the approach andprinciples of evolutionary approach. According to the processual approach,there is not any basis of profit maximization in the business organizations(Sminia and de Rond 2012). This approach states that the organizationalmanagers are required to develop the business strategies based on theresults of various policitical activities within the organizations.
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