Stratezing Practises

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FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION

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* ROBERTO IGLESIAS SANZ

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* STRATEGIZING PRACTICES

* Learning Diary

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* Economics and Business

March 2011

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WS1: Introduction to strategizing practices 02.02.2011

In the first lecture the professor explained to us which would be the aims of the course and gave us some previous definitions, seen previously in Strategic Management.

If I had to choose a definition of strategy I would pick out this one:

”Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder fulfil stakeholder expectations expectations”

(Johson et al.)

Keep your costs low and your options open

Play by the local rules

Analyse, plan and command

Plural

Outocomes

Profit-maximizing

Deliberate

Processes

Theories of Strategy

Evolutionary

Systemic

Processual

Classical

Stay closet o the ground and go with the flow

We can see from the previous figure that there are 4 perspectives, and each one has its own view of strategy and how it matters for managerial practice. From the book of Richard Whittington – What is Strategy and does it matter? I have summarized what in my opinion is the most important to understand the 4 theories of strategy:

1. Classicist sees strategy as a rational long term planning, vital to securing the future. Classical analyze, plan and command. For Classical school, planning can adapt to an anticipate market change, strategies are best made through rational analysis at one remove from the...