Strategic Management: An Overview

Running head: MANAGEMENT
Strategic Management
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Executive Summary:
The aim of the report is to provide an overview of three approaches of strategic management.
The approaches discussed here is the sustainable approach, stakeholder approach and the
dynamic capabilities. The report compares and contrasts between the three approaches based on
benefits, implementation issues and limitation. The report also puts forward an example of each
of the approach and puts forward the evaluation of each of the approach.

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Table of Contents
Introduction:....................................................................................................................................2
Sustainable Approach:.....................................................................................................................3
Benefits:.......................................................................................................................................4
Limitations:..................................................................................................................................5
Example of the Organization:......................................................................................................5
Success of the Approach:.............................................................................................................5
Stakeholder Approach:....................................................................................................................6
Benefits:.......................................................................................................................................6
Implementation Issues:................................................................................................................7
Limitations:..................................................................................................................................7
Example of the Organization:......................................................................................................8
Success of the Approach:.............................................................................................................8
Dynamic Capabilities.......................................................................................................................8
Benefits:.......................................................................................................................................9
Implementation Issues:................................................................................................................9
Limitations:..................................................................................................................................9
Example of Organization:............................................................................................................9
Evaluation of the Success of Approach:....................................................................................10
Conclusion:....................................................................................................................................10
References:....................................................................................................................................11

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Introduction:
The objective of the report is to provide an overview into the three diverse strategic
management approaches and thereby compare and contrast them based on their advantages,
limitations and implementation issues. Strategic management puts across execution and
formulation of the significant idea and goals assumed by the executive management team of an
organization in support of shareholders (Ansoff et al. 2018). The decisions are dependent on
considering the resources available and the evaluation of the internal and the external factors of
the environment that influences the operations of the business. The approach of strategic
management provides the organization with an overall direction since it takes into account the
goal of the organization and designs policies and plans for achieving the objectives. Practicing
managers and academicians have over time put across a number of frameworks and models for
aiding the process of strategic decision making. These models include a feedback channel for
helping the managers in monitoring implementation of strategies. The strategic management
approach chosen here include the sustainable approach, stakeholder approach and dynamic
capabilities. The report also helps in identifying an organization for each of the approach
implemented successfully.
Sustainable Approach:
It has been found that considerable number of both global and regional firms have used
the sustainable approach of strategic management. Sustainable approach refers to the
management method where the structure of the operations is described by its relevance (Tseng,
Lim and Wong 2015). The goal of the sustainable approach lies in providing products and
services that meets the customer needs in a significant manner. In fact, the sustainable approach
puts across a strategy of business management that helps in improving the quality of business