Three Important Strategic Management Approaches

Running head: STRATEGIC MANAGEMENT
STRATEGIC MANAGEMENT
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STRATEGIC MANAGEMENT1
Executive summary
In this study, three important strategic management approaches have been described. By
comparing the impact of all the approaches in organizational context, it can be said that dynamic
capabilities is the significant approach that is suitable for emerging business environment.
Through this approach, the companies like Amazon can ensure its long term growth in the
market by enhancing its resource capabilities.

STRATEGIC MANAGEMENT2
Table of contents
Introduction......................................................................................................................................3
Three approaches.............................................................................................................................3
Conclusion.....................................................................................................................................10
References and bibliography.........................................................................................................11

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Introduction
In the field of strategic management, in order to formulate as well as implement the
strategic goals, strategic approaches play the significant role (Rothaermel 2016). Based on the
organizational approach, collaboration among the employees can be ensured. In case of positing
in the strong position, the strategic approach adopted by the company can significantly impacts
on driving the business values. Strategic management can be considered as the essential
component in business that significantly evaluated the strategic vision and future plans of the
company (Ansoff et al. 2018). By continuing this it is true that in order to run the business
efficiently and effectively, the strategic management approach can significantly contribute in
driving the organizational values. In the 21st century, based on the organizational values and
target audience, the strategic approach gets varied in different organization. The purpose of this
study is to critically analyze the three important strategic approach such as sustainable approach,
stakeholder approach and abilities. In this study, comparing all the approaches, these benefits on
strategic operational have been examined.
Three approaches
Sustainable approach
Sustainability can be defined as the important business approach that contributes in bringing the
long term opportunities in the workplace that can contribute in managing the risk in the market
(Lasserre 2017). In the year 1994, John Elkington introduced the sustainable theory based on the
triple bottom line approach. Adopting the sustainable approach in the workplace, the
environmental, economic and social development can be ensured by the company. The
stakeholders values can also get increased based on the sustainability concern towards the