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Alternative perspectives on strategy (Dynamic process (Adopted a approach…
Alternative perspectives on strategy
Resource-based view
Characteristics
Classical thinking, process of analysis, decision & action, processual school (Whittington, 2001)
Positioning, acknowledge of tech, expertise, location & customers
Influencing external environment, to create opportunities.
Positioning & RBV are simply
P59 3.1 :explode:
Resources & capabilities to attract customers & influence the markets
Internal resources, competencies & capabilities
Success over the long-term
Reading 4
VRIO
Analyses resources or capability to be s or w
Value
Rarity
Imitability
Organisation
Dynamic process
Adopted a approach for process & environment
Low cost position, competencies & capabilities
Adapid to changing environments
Evidence & careful decisions in order
Achieve targets sales & profits
Structured approaches achieve targets
Changes internally and externally of the firm
Stage-by-stage
Develop understanding of situations
Reflect on reality to what happens in practice
Effective strategic response
Vision & involvement with analytic technique
Weick, Simon & Quinn
Making sense of worlds at the time
Best possible decisions, best actions with knowledge available
Strategies & policies are developed
Sense of complex situations
Structured method of thinking to assist with issues & problems
Sense-making
Comprehending, redressing, meanings, interacting, understanding & patterning
Construct & share meaning, mutual understanding
Information processing, sifting, decisions what is or not useful
Sources of info, emails. documents & websites, contacts
Events & situations = evidence & competing interpretations
Info, plausibility, coherence & reasonableness
Socially acceptable & credible
Bounded rationality
Assumptions of unbounded rationality
Begins at problem & context
Analytical processes, tools & techniques
Course of action select by given situation
Good enough decision to move forward
Classical strategist, exhaustive analysis, comprehensive planning & exact decision-making
Logical
Evolutionary, fragmented & intuitive
Incomplete awareness & knowledge
Problems in communication & coordination
Major events can upset plans = loss of key individual or illness or death & technology advances
Without long-term commitments
Social practice
Analysis, planning & choice
Strategy involves people
Structure & functioning of human society
Culture & social convention
Effective management
Collection of rules & conventions
Co-operative & competitive games within rules
Politics raises issues of power B6
From financial resources, social & cultural