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J e n n y C h i n g W e n L i u I D # 6 0 1 6 1 9 2 
Essay–MART434
ProfessorPhilOsborne1
st
April2010

WhatisStrategy?
 
WhatisStrategy?EssayMART434 2

Introduction
Nowadays,strategyisstudiedmorethanitwasinthepast.Manyarticlesandbookshavebeenwrittensincethefiftiesaboutthemeaningofstrategy.Therearemanymodelsandapproachesaboutstrategy,inwhichwecanfindagreementsanddisagreementsbetweentheauthorsthatdefinedthem.AccordingtotheOxfordEnglishDictionarystrategyis“aplanthatdesignedtoachieveaparticularlong-termaim,ortheartofplanninganddirectingmilitaryactivityinawarorbattle(oftencontrastedwithtactics).”However,weknowthatthisgeneraldefinitiondoesn’tsatisfyourissueswithstrategy.Thereisageneralconsensusthatstrategyhasdifferentmeaningsdependingonthecontextinwhichitisused.Mostauthorsagreethatstrategyisaboutcompetitiveadvantage,theabilitytodealwithchanges,andplanningandimplementingtacticssuccessfully.Allofthesetopicsareextremelyinterestingtoeveryorganizationineverycountry,whichexplainsthegrowingimportanceofstrategyinoursocietyandwhyitissopopulartodiscuss.Themainpurposeofthisessayistodefinestrategy,presenttheagreementsanddisagreementsaboutit,andsuggesthowitcanbedevelopedbyanorganization.Duringthediscussionbelowwewillpresentthedistinctiveviewsofnumerousauthors,theirdiversemodels,andelementsofstrategythattheycreated.Accenture –aglobalmanagementconsulting,technologyservicesandoutsourcingcompany–willbeusedasexampletoclarifyhowtodefineacompany’sstrategy.
 
WhatisStrategy?EssayMART434
3
Strategy:whatisthisabout?
Strategyfirstbecamepopularduringthe1960sanditsrelevancehasbeenincreasing.Manyauthorsandresearchershavebeenwritingarticlesandbooksaboutit.Theprinciplestudieswillbepresentedanddiscussedhere.Firstwewillhaveatimelineaboutstrategyfrom1950to2000:In1950thetopicstrategywasanincipientareathatstartedtobemorediscussed.In1960’stheSWOT(Strengths,Weaknesses,OpportunitiesandThreats)analysis,BCG(BostonConsultingGroup)Matrixandexperiencecurvewerecreatedandtheydevelopedmorediscussionaboutstrategy.In1970,Portercreatedtheindustrystructureanalysis.Alsostrategicunitsofbusinessweredeveloped,alongwithformalprocessesforelaborationstrategiesandsocialresponsibilitiesstartedtobecomeimportantinacompany.In1980,Porterintroducedthethemesofcompetitivestrategy,competitiveadvantageandvaluechain.Theaspectsofbetterassetmanagement,corporatecultureandtheimportanceofstakeholdersinthe
1950´1960´1970´1980´1990´2000'
- Area stillincipient as afield of knowledge- SWOT Analysis- BCG Matrix- Experiencecurve- Industrystructureanalysis (Porter)- Strategic unitsof business- Formalprocesses for elaboration of strategies- Socialresponsibilities- Competitivestrategy (Porter)- Competitiveadvantage, valuechain (Porter)- Better assetmanagement- Corporateculture- Stakeholdersimportance- Competitiveadvantage:analysis of resources andcompetencies of organization- Ethic code- Corporategovernance- Sustainability- BalancedScorecard - BSC- Blue OceanStrategy

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