Book Review of Strategic Management

2021-06-17 17:42:23
4 pages
1002 words
University/College: 
Boston College
Type of paper: 
Case study
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The book Strategic Management written by Jeffrey, Paul Robert and David in 2014 provides an insightful and concise introduction to some of the relevant concepts of strategy. Some of these aspects discussed in the book include planning, designation of roles, and outcomes evaluation. The ideas are not only well defined in the text but the authors also painstakingly demonstrate their applicability in real life situations. Through using case examples, the authors succeed in making the book both responsive to the current issues and widely applicable in different management situations. The authors use their experiences from the diverse professional backgrounds to make the book stunning and expressly expository (Jeffrey et al., 2014). From the onset of the book, the authors designed it in such a way that they look like consultants who not only provide new perspectives on some of the strategic management practices, concepts and applications but also trigger ideas, motivate creative thinking and discussions.

The book tries to explore the topic of strategic management based on its traditional definition and a modern perspective. As a standard concept, the authors define strategic management as the different decisions, activities and processes that managers employ to gain a competitive advantage over the competitors, it specifies examples of the policy decisions, and processes in a way that show practicality (Jeffrey et al., 2014). The book does not deal with strategic management as a concept and practice in isolation. In essence, the authors appreciate that there are internal and external factors that determine the strategic management used in any situation to ensure organisational success (Thompson & Martin, 2010). For instance, the book exemplifies the general and competitive environment in which the organization operates as being primary predictors of success and determinants of operational strategy. Moreover, the authors provide that a strategic decision made by any manager is only proven to be effective if almost all the characteristic parameters such as profitability, proper corporate relations, and increased number of clients served which shows loyalty.

Strategic Management asserts the significance of SWOT analysis in the decision-making process by managers in different institutions. The strengths and weaknesses of the study criteria focus on the internal operations of an organization that determine its competitiveness. The advantages include automation of processes, competitive rewarding of labor, and offering high quality products or services that are unmatched by competitors (Thompson & Martin, 2010). In the book, the authors place the assessment of the exogenous factors that affect operations and sustainability at the center of strategic management of organizations. The authors provide a critical analogy that institutions that best utilize their strengths, minimise weaknesses, make good use of the emerging opportunities and being cognizant of the potential threats have an ability to leverage the competition posed by other actors in the industry thus ensuring sustained operations (Thompson & Martin, 2010). In essence, while the authors support the idea that managers should be decisive in determining the course that an institute takes, their reaffirmation of the need to consider possible threats and weaknesses opposes the absolute obsession with success which sometimes leads to massive losses or damage of corporate reputation (Jeffrey et al., 2014).

The books bring into discussion the relationship between organisational strategy and structure, their collective and individual influences on institutional success. Though not directly, the authors express strategy as either a framework or model designed to accomplish a given objective. On the other hand, the book shows that the structure of an organization encompasses the specific activities involved in achieving the desired goal. It includes roles such as task allocation, coordination and supervision. Within this volume, the authors establish that structure and strategy are complementary aspects that must be redefined to make a seamless continuum that achieves desired goals. The book redefines strategic management as being more than just a casting stone for success. For instance, it shows that strategic management involves planning for both the predictable and unpredictable contingencies. Complex activities participate in making a proactive management strategy such as effective planning, distribution or roles, allocation of resources and proper execution (Jeffrey et al., 2014). An error in any of these activities naturally affects the achievement of a sustainable competitive advantage.

This book is not only sound for aspiring managers but also active ones. For instance, it helps the active managers to figure out the direction in which their organization should go within a determined time interval (Freeman, 2010). It reminds all organizations and their managers that strategic management is not a one-time event but involves a series of adjustments and assessments that ensure they remain on track. Though widespread perception portrays strategic management as a fixed framework that an organization should follow, the book reorients such a conception by positing that minor adjustments are often necessary for the course of organisational operations to ensure that the final outcomes are flawlessly attained (Freeman, 2010). Changes depend on the changing operational environment characterized by the adoption of new methods of operations by the competitors or dynamics of the people served.

Though strategic management is an amorphous terminology used in contemporary institutional processes, this book focuses on looking at its integral components such as strategic operations, strategic human resource management, and strategic resource allocations. Based on this separation of elements, strategic management of human capital stands out as a major driving force in any corporate. The book also provides a justification for integration of strategic management in the operations of any company (Jeffrey et al., 2014). Jeffrey et al. (2014) assert that strategy makes workers more committed to their work, trustworthy and satisfied. They also become more responsive to changes in their work environments. Thus the employees can judge the impact of such changes on their job and can face the changes. The managers and staff must do appropriate things in a suitable manner. They need to be both effective as well as efficient

References

Freeman, R. E. (2010). Strategic management: A stakeholder approach. Cambridge: Cambridge University Press.

Jeffrey H. Dyer, Paul G., Robert J. & David B. (2014). Strategic Management (1st Ed.). John Wiley & Sons.

Thompson, J. L., & Martin, F. (2010). Strategic management. Andover: Cengage Learning.

 

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