Strategic Management: Formulation, Implementation, and Control in a Dynamic Environment

Abstract

ABBASS ALKHAFAHI 2003 Strategic Management: Formulation, Implementation, and Control in a Dynamic Environment. Haworth Press ISBN 0-7890-1810-1 (paperback) The study of strategic management is typically designed as a capstone unit in business courses. The intent is for the unit to integrate other business subjects such as finance, marketing, and human resource management, and present a holistic overview of running an organisation. Many scholars have approached the teaching of strategic management advocating the application of models and frameworks. Adopting a similar approach, Alkhafahi has organized his thoughts around a generic strategic management framework when writing this textbook. This framework consists of four connected and dynamic elements: environmental analysis, strategy formulation, strategy implementation, and evaluation and control. This textbook is divided into two main sections. section One consists of ten chapters and provides an in-depth analysis of strategic management concepts and models. It covers formulation, implementation, and control of strategies for various types of domestic and global organisations. section Two offers various tips on writing cases and preparing for case analysis. It also makes many references to major corporations as case studies. Chapter One presents a broad overview of the field of strategic management such as its importance, definition, and history. Chapter Two elaborates on the key strategic management processes and explores important contemporary issues such as total quality management and reengineering in relation to strategic management. The various types of strategy, organisation hierarchy, and theme of the strategy are also addressed in this chapter. Analytical tools connected to assessing the environment are highlighted in Chapter Three. Both internal and external environments are covered. The book mentions that the internal environment consists of functional areas such as production, and research and development, while the external environment is dominated by forces which shape a particular industry. Furthermore, other macro-environmental factors such as economic, technological, political, and social forces also affect the organization's external environment. The next two chapters focus on the formulation of corporate, business, and functional strategies. Several types of corporate strategic alternatives are analyzed. These options include specialization, internal growth, diversification, and strategic alliance. Some popular management concepts such as Boston Consulting Group matrix, General Electric matrix, McKinsey's "Seven S" model, and Michael Porter's generic strategies are briefly described. …