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Is Strategy An Essential Component Of Management?

1941 words - 8 pages

Is Strategy an Essential Component of Management?

It seems reasonable and common for any organizations to have their own strategy in achieving their organization goals aligning their mission and vision within operations. As one of the most important management practice, strategy is currently playing a dominant role in the everyday lives for managers. Managers are generally expected to have strategic thinking while planning and framing activities (Philips & Dar 2009). In the following essay, the importance of strategy as a component of management will be discussed. Many literature has been focusing on the argument that strategy is needed within organizations in order to set their ...view middle of the document...

Likewise, an organization may discourage their competitors from unfavourable actions by threatening them. Strategy is not only plan; it is also a pattern, consistent in behaviour of a corporation, in a stream of actions. Nevertheless, strategy is a position, where it becomes a mediating force between the internal organization and the external environment. The definition of strategy employed in the 1860s was to deploy one’s resources in a way that is most likely to defeat competitors. From a newer perspective, we can now see strategy as to create situation for economic rents and to sustain them in various ways. Finally, strategy is defined as a perspective, which is similar to the idea of the ‘character’ of an organization, or something like personality. For example, some organizations may be aggressive to create new technologies or to explore new potential markets, and some may just sit back and remain protected and stable within their established markets. Most importantly, Mintzberg (1987a) points out that the perspective is shared among all members of the organization through their intentions or actions.

In many ways, strategy seems important in management. Firstly, we can see that from the connection between strategy and organizational performance. Firms that have a correct strategy would have a higher level of performance, whereas for firms where managers are less proficient, would have a lower performance together with less effective strategies. Moreover, the activities of top-managers are always the ones we focus our attention on. In particularly, to formulate an effective strategy as well as leading to organizational success, it is crucial for them to have strategic decision making as well. Strategy formulation and implementation is also differentiated (Phillips & Dar 2009). On the other hand, Knights and Morgan (1991) has pointed out the relationship between strategy and management prerogatives, and that strategy can reinforce the power of business leaders and certain powerful players. Through developing strategy within the organization, a new form of managerial prerogative can be sustained. Managers are expected to be experts who has the ability to define and solve problems within the organization strategically. This is important to the organization’s daily functioning and thus means that their prerogatives are legitimate. Strategy is considered as the ultimate level of thinking and decision making, and the idea of managers having the responsibility to implement strategy for the organisation has differentiated them among and over other employees, in terms of elevation. Yet, Mintzberg (1971) pointed out and highlighted the reality of managerial work in an organization, its complexity and difficulty, and that there is so little time for strategic thinking managers in the normal course of their days.

Still, Mintzberg (1987b) in his another article, has stressed the importance of strategy as a component in management. He...

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