Strategic Management: Prescriptive and Emergent Approaches, SWOT Analysis, and Impact of Environment

Strategic Management

Table of Contents
INTRODUCTION...........................................................................................................................3
SECTION 1......................................................................................................................................3
Compare and contrast the application of “prescriptive” and “emergent” approaches to
strategy...................................................................................................................................3
SECTION 2......................................................................................................................................6
Use and application of SWOT analysis is “burnt tool”. Critique this statement appraising
issues, along with limitations.................................................................................................6
Two theoretical approaches available to managers to analyse the impact of environment....7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
Books and Journals:..............................................................................................................10

INTRODUCTION
Strategic Management can be defined as an ongoing thinking, monitoring, assessment
and examination of all the requirements a business requires to meet its aims and long term goals.
As the business environment is dynamic in nature, changes always take place so business
requires to constantly analyse their tactics for success (Agha and Dixon, 2021). The process of
strategic management assists companies take stock of their existing situation, chalk out their
plans and tactics, distribute them, along with assess the effectiveness of the enforced
management tactics. This also involves the identification as well as description of the tactics that
managers can carry so as to attain better performance as well as a competitive benefit for the
business. It contains a bundle of choices and acts which a manager proceeds and which decides
the outcome of the organizational performance. The following essay will be based upon the
topics related with the strategic management. In section 1 of this essay will be based on the
comparison and contrast the application of prescriptive and emergent approaches associated to
business tactics. With the help of organizational examples, the role of those approaches will be
described in the delivery of their objective. In section 2, the use and application of SWOT
framework will be analysed as “burnt tool”. It will determine its issues and limitations connected
with its application and use. Lately, in order to analyse the impact of business environment, two
models will be applied which are available to managers.
SECTION 1
Compare and contrast the application of “prescriptive” and “emergent” approaches to strategy.
Strategy can be defined as a long term direction of a business as it tries to attain
competitive benefits amidst resource constraints, changing business environment and diverse
stakeholder expectations. This justifies that strategic manager or seniors of the organisation must
assess internal environment in order to know their strong and weak points, along with external
environment with an intent to identify different opportunities and threats that affects the
business. Strategic planning defines as a process in which an organisation’s internal and external
business environment are analyse and explored in a systematic way to make its business static. It
acts as a long range planning (Omelyanenko and et.al., 2020). Such a strategic planning of an
organisation can be done utilising to approaches prescriptive approach and emergent approach.