Wednesday, August 6, 2008

Srategy is like pornography...

hard to define, but I know it when I see it. Here are some definitions from economists
  • The strategic management field is—positively—the scientific study of the plans that firms build and implement in order to achieve and maintain competitive advantage, and—normatively—the attempt to identify optimal plans for achieving and maintaining competitive advantages
  • A field aimed at understanding competitive heterogeneity
  • Strategic management is the interdisciplinary field that studies the behavior of companies and other market parties, in terms of their strategic behavior, the choices they make with regard to organizing their production, their interrelationships, and their competitive positioning. All of this is set against a thorough understanding of the broader environment in which companies have to operate
You have to read the article to get the views from scholars in Sociology, Marketing, and Management.

1 comment:

  1. At Owen, we were inundated with a plethora of strategic definitions. Most of which were very academia sounding and never made much sense. In my opinion, the best definition was the simplest definition and it came from Professor Neta Moye who taught a course titled "The Strategic Alignment of Human Capital." Very simply stated she defined strategy as "how the firm wins customers."