Strategic view of performance
In this session we take a closer look at what is meant by strategy. The classical approach to strategic management treats strategic planning and control as purely the province of senior managers. More recent approaches accept that middle-level managers may have an important role to play, not only in implementing strategy but also in the emergence and formulation of strategic direction. We will look at three broad approaches to understanding strategy. First, we examine the idea of strategy as a formal, top-down process of analysis and planning based on a considered response to the environment in which the organisation operates, and its core mission. Second, we consider strategy as the identification and development of core capabilities and networks of relationships, as a source of competitive advantage. Third, we turn to one important aspect of strategy: understanding and managing the creation of value, within and between organisations. Finally, we consider the ways in which strategic direction can emerge over time as the accumulation of smaller tactical decisions, as opposed to a formal, top-down process of analysis and planning.
This OpenLearn course provides a sample of postgraduate study in