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Strategy - Coggle Diagram
Strategy
Definition of Strategy (Nag et al., 2007, p. 994;):
https://learn2.open.ac.uk/mod/oucontent/view.php?id=2523355§ion=4
1 - The Broad General Direction of the organisation
2 - Initiatives given and implemented by managers
3 - it is used in most organisations e.g public/private/not for profit
4 - managers play a central role in strategic management -it is a human activity
A plan
where are we now
where do we want to be in 5 years time
what do we have to do to get there
History
it began in the 1950s in finance
by 1955 economic trends were studied and plans were formulated in reaction to the trends
in the 60s research found that the different ways companies structured their departments brought different behaviours and results
five Ps of Strategy Mintzberg’s (1987)
plan pattern position perspective ploy
https://learn2.open.ac.uk/mod/oucontent/view.php?id=2523355§ion=5
https://learn2.open.ac.uk/mod/oucontent/view.php?id=2523355§ion=6
Deliberate versus emergent strategies
Core areas of strategic management
https://learn2.open.ac.uk/mod/oucontent/view.php?id=2523355§ion=8
It is formulised and implemented