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Strategy Making and Implementing

In: Understanding Business Strategy

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  • Lourdesamy Iruthayasamy

Abstract

This chapter explores deeper into the meaning of strategy through the theme ‘Strategy Making and Implementing’. Specifically, it focuses on strategic thinking, strategic analysis, and strategic planning. Major works on these concepts are reviewed and assessed, including the contributions of Ohmae, Hamel and Prahalad, Mintzberg, and Rumelt. Asian and Western modes of thinking are noted. The impact of values and beliefs on strategic thinking and analysis is discussed. The decision making process and the limitations of rational decision making are explored. Do strategies come from strategic planning or ‘emerge’ is examined. Implementation is the graveyard of strategies. The problems in strategy implementation are reviewed, with particular reference to Porter, Mintzberg, and Kim and Mauborgne. Challenges like whether strategic thinking can be modelled and taught is also taken up. Together with Chap. 1 , the parameters of strategy become clearer. The confusion and consensus in the understanding of strategy become more apparent.

Suggested Citation

  • Lourdesamy Iruthayasamy, 2021. "Strategy Making and Implementing," Springer Books, in: Understanding Business Strategy, chapter 0, pages 27-45, Springer.
    • Handle: RePEc:spr:sprchp:978-981-33-6542-1_2
    DOI: 10.1007/978-981-33-6542-1_2
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