Strategic Management at Virgin

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Evaluate the suitability of the emergent and intended approaches to strategy management for your chosen organisation. Throughout the global economic environment the desire to out-perform the competition is always present. In every situation, the companies who do better are the ones with superior strategy (Rothaermel, 2013). Strategic management is therefore important in every company, no matter what industry or market they operate in; and as stated by M. Carpenter and G. Sanders, 2013, is described as "The process by which a firm manages the formulation and implementation of its strategy". Strategic management is a constant topic under discussion with different schools of theorists with different beliefs and attitudes which is described as "A tense array of disagreement" (Rees, 2012). Many theorists (Lynch, 2003, Mintzberg, 1990, Ansoff, 1991) will argue that the two main schools of strategic planning are the prescriptive, also known as intended, and emergent approaches. Both are debated widely about which is the better approach; recognised best by Idenburg (1993). Prescriptive strategies focus on planning; where predictions of the future are made, leading to long term decisions where the main elements of the strategy have been specially planned before being commenced and as stated by Mintzberg, 1990 "Strategy formation should be a controlled, conscious process of thought". The emergent approach relies on the fact that the outcome of the objective is not known; in contradiction to the prescriptive approach it is not a 'controlled, conscious process of thought' and has been described by Downs, et al (2003) as a trial and error process. The importance of strategy within organisations has been discussed as early as the 1950's with ... ... middle of paper ... ...ring the basic premises of strategic management'. Vol 12 pp. 449-461. San Diego: Strategic Management Journal. Herzberg, F. (1968). One More Time: How Do You Motivate Employees? Harvard Buisness School. Lynch, R. (2003). Corporate Strategy 3rd edition. FT Prentice Hall. Mason Carpenter, G. S. (2013). Strategic Management: Concepts and Cases Second Edition. Harlow: South-Western Pub. Mintzberg, H. (1990). The design school: Reconsidering the basic premises of strategic management, Vol 11, 171-195. Montreal: Strategic Management Journal. Rees, J. (2012). Prescriptive strategic planning in the current economic climate and possible alternative approaches. 1-6. Rothaermel, F. T. (2013). Strategic Management: Concepts and Cases. New York: McGraw-Hill/ Irwin. Sanders, M. C. (2013). Strategic Management: Concepts and Cases Second Edition. Harlow: South-Western Pub.

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