Strategy like knowledge management is also another interest of organisations/ businesses. Strategy was defined by (Quinn, 1980) as the plan to blend together an organisation’s aims / goals, policies and outcome as one. Other authors like (Davies, 2000) had a similar definition which supports Quinn’s. I am in support of both authors definition of strategy as it covers all the different necessary areas of which includes organisational goals, policies and actions taken.
Nevertheless, I thought about this hard and from the research done, I concluded that this definition does not bring into view the dynamic nature of the external environment of an organisation. To me, it assumes that the external environments of organisations are static in nature which is not true at all. The external environment is dynamic or ever changing as a result of the factors affecting it which Porter identified as Buyers, Suppliers, competitive rivalry among competitors, entry barriers and substitute goods.
Strategy in organisations are classified in 3 ways namely Corporate, Business and functional strategies. Corporate strategy is concerned with the overall strategy of the organisation which is aligned with both the business and functional strategies. For instance, the corporate strategy of the Gucci group famously known as Gucci is their brand image. On the other hand the business strategy is concerned with the different businesses which the organisation engages in. One of Gucci’s business strategy is their design strategy for their female collection. Functional strategy is the strategy that involves the everyday functioning of the organisation.
Knowledge is an important area to consider when formulating a strategy for an organisation and therefore knowledge needs to be well managed, the knowledge management would need to be well aligned with the organisational strategy (Halawi, 2000)
I have just read your blog and I find your piece on Strategy very intersting. I like the fact that you identified the external factors that might affect the strategy of an organisation that Quinn (1980) and Davis(2000) forgot to address. It was also good to see that you had included examples with the different classifications of Strategy.
ReplyDeleteI would like to point out that you did not give your understanding as to what you think strategy is. It would be nice if you could give a definition that encompasses the points you agree with that were brought up by Quinn and Davis and include the external factors you think might affect an organisations strategy. I think this would be a good definition of strategy.
I would also like it if you could put up a list of your references as it would be helpful to see where you got the classifications of strategy from.
hi rose,your view of explanation about strategy is good. But i have one doubt that how do you know that it is classified in three ways?Its better to mention author name.
ReplyDelete