Development of Strategic Management Approach

Paper Summary:

An analysis of the development of organisations and organisational theory from the Industrial Revolution to the present day give inconsistent pictures of theories, that are all open to potential criticism. This paper attempts to examine the development of strategic management. It begins with a brief introduction to the history of strategic planning and an outline of the characteristics associated with it. It then looks at assumptions and the limitations as well as characteristic associated with the approach .
It concludes with the reasons why the strategy as a practice has become more popular in recent years.

Outline
Introduction
Planning Strategy Assumption
Planning Strategy Implications
Planning Strategy Limitations
Strategy as Practice Assumptions
Strategy as Practice Implications
Why Strategy as Practice has Become More Popular
Conclusion

From the Paper:

"According to Child and Smith, Hatch, Pettigrew et al, strategic planning cannot handle limit-forecasting accuracy, nor can it predict the future. In particular, the main criticism of strategic planning is that hard data is not more reliable, and in some cases less, than qualitative data. Organisations and managers are not rational entities and do not apply a rational approach to decision-making.
If a organisational structure, inhibits the achievement of goals (Fritz 1994) , this proves to be deficient because of poor quality and delayed decision making. Inefficient co-ordination within groups or between functions, as outlined by Child (1984) , may act to impair the outcomes of change as well as the overall goals of the organisation."

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