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Based on military strategies, the chapter details the three elements of strategy, which represents an integrated decision-making on three core questions concerning a company’s development. First, is the decision on determining long-term development goals; second is that on identifying key development problems and main challenges; third is that on formulating guiding principles for solutions to the main challenges, making it an interdependent whole indispensable to each other. In other words, an overall strategy decision is composed of three sub-decisions, which are related and are matched with the three core elements of the strategy concept.
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The growth and diversity of strategic management research raise important questions about the field’s identity. In response to the increasing breadth of topics addressed in the field, scholars have suggested the need for a more topical focus, improved theoretical and empirical rigor, or additional integrative reviews. We suggest an alternative approach, one that emphasizes the distinctive contributions of strategic management. We highlight three unique characteristics of strategic decisions: interdependence across contemporaneous decisions, across the decisions of other economic actors, and across time. We suggest that this threefold characterization of strategic decisions improves on existing definitions that rely on the perceived importance of decisions or the trade-offs presented by a decision. Our definition of strategic decisions highlights patterns of interdependent choices that are complementary or superadditive to value creation. Moreover, this characterization of strategic ...
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Strategic decision making is very useful when dealing with poorly structured problems for which there are no clear solution procedures. In attempting to provide an evaluation of how much influence strategic decision making has on organizational performance, this paper posits that effective strategic decisions are results of systematic and careful analysis of information. Factors that influence management decisions as well as organizational performance are explained, pointing out that though the strategic decision-making approach enables organizations to sustain a competitive edge and ensure survival, there is a likelihood that the scope and direction of the organization will be changed. This paper uses a systematic review of articles and contributes to an understanding of factors that contribute to organizational performance such as management, employee behavior, decision making processes as well as organizational environmental factors. Having adopted the administrative behavior theory of Herbert Simon, the study concluded by indicating that the strategic decision-making process plays an important role in the effective performance of an organization
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This paper investigates the relationship between the process of strategic decision-making and management and contextual factors. First, drawing on a sample of strategic decisions, it analyzes the process through which they are taken, into seven dimensions: comprehensiveness/rationality, financial reporting, rule formalization, hierarchical decentralization, lateral communication, politicization, problem-solving dissension. Second, these process dimensions are related to (1) decision-specific characteristics, both perceived characteristics and objective typologies of strategic decisions, (2) top management characteristics, and (3) contextual factors referring to external corporate environment and internal firm characteristics. Overall, the results support the view that strategic decision processes are shaped by a multiplicity of factors, in all these categories. But the most striking finding is that decision-specific characteristics appear to have the most important influence on the ...
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Business Policy and Strategy
- Reference work entry
- First Online: 01 January 2018
- Cite this reference work entry
- Tammy L. Madsen 4
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Business policy and strategy (BPS) is a distinct field of scholarship focused primarily on explaining heterogeneity in the behaviour and performance of organizations, in particular business firms. As a step in building legitimacy for the growing field, the BPS Division of the Academy of Management was formed in 1971. The BPS Division is a professional community of scholars dedicated to advancing the field by creating and disseminating knowledge about business policy and strategy. This entry provides a brief history of the field from a research perspective.
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Andrews, K. 1971. The concept of corporate strategy . Homewood: Dow Jones-Irwin.
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Penrose, E.T. 1959. The theory of the growth of the firm . New York: Wiley.
Porter, J.E. 1980. Competitive strategy: Techniques for analyzing industries and competitors . New York: Free Press.
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Madsen, T.L. (2018). Business Policy and Strategy. In: Augier, M., Teece, D.J. (eds) The Palgrave Encyclopedia of Strategic Management. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-00772-8_725
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Business Strategy Case Studies
January 8, 2010
" Strategy requires thought, tactics require observation ", – Max Euwe
"If GE’s strategy of investment in China is wrong, it represents a loss of a billion dollars, perhaps a couple of billion dollars. If it is right, it is the future of this company for the next century. " – Jack Welch
The significance of strategy in driving the success or failure of a business has gained increased recognition in recent years. Business and Strategy case studies provide an in-depth and clear insight to this important management subject, simplifying the business jargon and abstractions that often surround business education and strategy. Business Strategy cases generally include:
- Identification of strategic objectives
- Studying the business environment
- Identifying Strategic Opportunities
- Comparison of Strategic Alternatives
- Strategy Implementation
Top 40 Most Popular Case Studies of 2021
Two cases about Hertz claimed top spots in 2021's Top 40 Most Popular Case Studies
Two cases on the uses of debt and equity at Hertz claimed top spots in the CRDT’s (Case Research and Development Team) 2021 top 40 review of cases.
Hertz (A) took the top spot. The case details the financial structure of the rental car company through the end of 2019. Hertz (B), which ranked third in CRDT’s list, describes the company’s struggles during the early part of the COVID pandemic and its eventual need to enter Chapter 11 bankruptcy.
The success of the Hertz cases was unprecedented for the top 40 list. Usually, cases take a number of years to gain popularity, but the Hertz cases claimed top spots in their first year of release. Hertz (A) also became the first ‘cooked’ case to top the annual review, as all of the other winners had been web-based ‘raw’ cases.
Besides introducing students to the complicated financing required to maintain an enormous fleet of cars, the Hertz cases also expanded the diversity of case protagonists. Kathyrn Marinello was the CEO of Hertz during this period and the CFO, Jamere Jackson is black.
Sandwiched between the two Hertz cases, Coffee 2016, a perennial best seller, finished second. “Glory, Glory, Man United!” a case about an English football team’s IPO made a surprise move to number four. Cases on search fund boards, the future of malls, Norway’s Sovereign Wealth fund, Prodigy Finance, the Mayo Clinic, and Cadbury rounded out the top ten.
Other year-end data for 2021 showed:
- Online “raw” case usage remained steady as compared to 2020 with over 35K users from 170 countries and all 50 U.S. states interacting with 196 cases.
- Fifty four percent of raw case users came from outside the U.S..
- The Yale School of Management (SOM) case study directory pages received over 160K page views from 177 countries with approximately a third originating in India followed by the U.S. and the Philippines.
- Twenty-six of the cases in the list are raw cases.
- A third of the cases feature a woman protagonist.
- Orders for Yale SOM case studies increased by almost 50% compared to 2020.
- The top 40 cases were supervised by 19 different Yale SOM faculty members, several supervising multiple cases.
CRDT compiled the Top 40 list by combining data from its case store, Google Analytics, and other measures of interest and adoption.
All of this year’s Top 40 cases are available for purchase from the Yale Management Media store .
And the Top 40 cases studies of 2021 are:
1. Hertz Global Holdings (A): Uses of Debt and Equity
2. Coffee 2016
3. Hertz Global Holdings (B): Uses of Debt and Equity 2020
4. Glory, Glory Man United!
5. Search Fund Company Boards: How CEOs Can Build Boards to Help Them Thrive
6. The Future of Malls: Was Decline Inevitable?
7. Strategy for Norway's Pension Fund Global
8. Prodigy Finance
9. Design at Mayo
10. Cadbury
11. City Hospital Emergency Room
13. Volkswagen
14. Marina Bay Sands
15. Shake Shack IPO
16. Mastercard
17. Netflix
18. Ant Financial
19. AXA: Creating the New CR Metrics
20. IBM Corporate Service Corps
21. Business Leadership in South Africa's 1994 Reforms
22. Alternative Meat Industry
23. Children's Premier
24. Khalil Tawil and Umi (A)
25. Palm Oil 2016
26. Teach For All: Designing a Global Network
27. What's Next? Search Fund Entrepreneurs Reflect on Life After Exit
28. Searching for a Search Fund Structure: A Student Takes a Tour of Various Options
30. Project Sammaan
31. Commonfund ESG
32. Polaroid
33. Connecticut Green Bank 2018: After the Raid
34. FieldFresh Foods
35. The Alibaba Group
36. 360 State Street: Real Options
37. Herman Miller
38. AgBiome
39. Nathan Cummings Foundation
40. Toyota 2010
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Zimbabwe Is a Case Study of Hardships People Will Face in Hell - Says Teachers Union President As Economy Tanks
AMALGAMATED Rural Teachers' Union of Zimbabwe (ARTUZ) president, Obert Masaraure says due to myriad problems facing Zimbabweans, the country can be likened to a case study of what the dead will experience in Gehenna.
According to the Christian Bible, Gehenna refers to a place where both soul and body will be consumed and destroyed in a huge fire.
In his analogy, the trade unionist highlighted the dysfunctionality of the local economy where prices have spiralled out of the reach of ordinary folk, particularly civil servants.
He noted that funeral assurance policy premiums were eroding teachers' salaries, among other challenges bedeviling the general citizenry.
The ARTUZ leader was addressing mourners in Zvimba North, Mashonaland West province where scores gathered over the Easter holiday for the burial of a union member's son.
Masaraure said Zimbabweans from all walks of life were enduring a collapsed health delivery system where hospitals do not have medicines, a non-existent public transportation infrastructure and general malaise.
"Only a few teachers can afford funeral policies from Sahwira Mukuru (Nyaradzo Funeral Assurance). This firm only comes after having deducted from the little teachers earn. A long time ago, you would not feel the pinch, but what makes it look as if their deductions are exorbitant is because they are taking from nothing.
"If you look at Zimbabwe, you would think it is case study by God to show us how we will suffer in the hell called Gehenna. The hardships in this country are too much, from the El Nino which has destroyed crops in the fields, to the El Nino in hospitals without medicines, to El Nino of struggling to get school fees, in the roads there is an El Nino of lack of transport," said Masaraure.
The deceased was a Form 1 male learner, who died after he was run over by a motorist in Mutoko last week.
Read the original article on New Zimbabwe .
- Southern Africa
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Momfluencer Ruby Franke wrote in her journal that it was 'a big day for evil' as she detailed how she tortured her children
- The Washington County Attorney's Office has released several files related to Ruby Franke's case.
- Among them is the disgraced momfluencer's journal where she recounted how she abused her kids.
- Franke and her associate Jodi Hildebrandt will each serve up to 30 years in prison for their crimes.
Ruby Franke, the former family vlogger who pleaded guilty to abusing two of her children , detailed in handwritten journal entries how she carried out some of the abuse.
In copies of the entries, which were released by the Washington County Attorney's Office on Friday, the Utah mother of six described several incidents of abuse inflicted on two of her children, whose names were redacted and replaced with "R" and "E" by authorities.
In one entry from July 11, 2023, the disgraced momfluencer wrote that it was a "big day for evil."
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Franke, who once ran the popular YouTube channel "8 Passengers," then went on to describe an incident where she held her hands over her son's nose and mouth while holding him underwater.
In an entry for the following day, Franke described how she cut off her daughter's hair and "doused" her with water in the "dog wash" as punishment for wanting to break a two-day fast she had forced her to do.
"These selfish, selfish children who desire only to take, lie, and attack have zero understanding of god's love for them," Franke wrote the next day in her journal.
Franke and her business partner, Jodi Hildebrandt — who ran the controversial parenting YouTube channel "ConneXions" together — were arrested in August 2023, and both charged with six felonies after Franke's 12-year-old son escaped from Hildebrandt's home in Ivins, Utah and sought help from a neighbor.
The arrest followed years of controversy and allegations of child abuse surrounding Franke and her family vlogging channel , which documented her life with her now-estranged husband, Kevin Franke, and their children.
Franke and Hildebrandt were each sentenced to up to 30 years in prison for their crimes.
In a case summary , the Washington County Attorney's Office said that Franke and Hildebrandt were motivated by religious extremism.
"The women appeared to fully believe that the abuse they inflicted was necessary to teach the children how to properly repent for imagined 'sins' and to cast the evil spirits out of their bodies," it said.
Watch: Disturbing details behind "Momfluencer" Ruby Franke's arrest
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The Washington County Attorney's Office has released several files related to Ruby Franke's case. Among them is the disgraced momfluencer's journal where she recounted how she abused her kids.