Strategic Management Course Overview and Strategy Concept
Strategic Management Course Overview and Strategy Concept
Strategic Management Course Overview and Strategy Concept
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<strong>Strategy</strong> concept for business was developed at Harvard<br />
Business School<br />
� First course in business policy offered 1912: integrate knowledge from<br />
functional areas like accounting <strong>and</strong> operations<br />
� Search for core issue facing a company to tie together the other<br />
symptoms <strong>and</strong> problems in a company‘s situation <strong>and</strong> provide insight<br />
to the needed solution: “..all the messy, unsolved <strong>and</strong> perhaps undefined<br />
problems of importance charactising business management“ were<br />
summarized under the term strategy (Joseph Bower)<br />
� <strong>Strategy</strong> as „analytical construct“ to summarize core issue as the socalled<br />
“purpose of the firm”: “to help the practitioner translate the chaos<br />
of events <strong>and</strong> decisions he faced every day into an orderly way of sizing up<br />
the firm‘s position in its environment“ (Michael Porter)<br />
Source: Michael Porter, Industrial Organisation ant the evolution of concepts for strategic planning<br />
© 2007 Prof. Dr. Bernd Venohr<br />
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