Report on Social Science Disciplines in Strategic Management
Added on 2020-06-05
9 Pages2483 Words47 Views
STRATEGICMANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3LITERATURE REVIEW................................................................................................................3COMPARATIVE ANALYSIS OF SELECTED MODELS...........................................................5BUSINESS EXAMPLE...................................................................................................................6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONStrategic management is the process of formation as well as implementation of goals andobjectives to attain them within specified time period. The process is conducted by higherauthorities of organization. Every organization has to use effective strategies that help them tomeet their set of targets and enhance their services as well. As per Mintzberg, strategy is the planwhich guides company and assists them to carry out their functions in a smooth way (D'Aveni,Dagnino and Smith, 2010). The present report it based on various perspectives of social sciencedisciplines which are related to strategic management.LITERATURE REVIEWAccording to the views of Dezsö and Ross, (2012) it is depicted that strategicmanagement is the systematic term which is created with the help of contribution of differentfactors such as sociology, economics, public administration, etc. Further, this approach plays asignificant role in every firm. Staff members are responsible to frame plans and strategies andimplement them according to the requirement of company. Every researcher is having differentperspective about his concept. Few of them believe that this process has been used by companiesin order to enhance their working performance and try to easily attain their target as well. Inorder to grow, they have to prove proper training to their employees and increase their level ofunderstanding, skills and knowledge. On the basis of views of Freeman, (2010) it has been stated that in the study of businessstrategy, Whittington strategic approach is sociological in nature as compared to others. Itconsists of various approaches which are as aligned below:Classical planning- It defines that managers are responsible to frame strategies and goalsthrough which they try to maximise their level of profit and conduct SWOT in order to analysetheir current performance.Evolutionary approach- It is the progressive method which is able to provide productiveentity and managed by international markets. Prosecusial approach- Initially organizations are bound to frame strategies and try toimplement as per the requirement. Effective decisions are taken in this method which isbeneficial for the entire firm.
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