Business Strategy Development: Art or Science?

A company’s failure is not necessarily attributed to a bad management. Instead, it is related to the absence of a management system that articulates a business strategy, implements it, and finally evaluates that effectiveness of it (Norton & Robert 2008).

Strategic management can be defined as

the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives” (David 2013, p.35).

Some scholars view the of business strategy development as a three-stage process which consists of:

  1. Strategy formulation
  2. Strategy implementation
  3. Strategy evaluation

Each stage incorporates different sets of tools and techniques needed to lead to a strong business strategy.

Using the art of selecting the right mix of tools and techniques and the science of implementing them, this case study aimed at evaluating the above stages and provided recommendations for a telecommunication company in the MENA region;  Zain Group.

References

David, F., 2013. Strategic Management Concepts and Cases: a Competitive Advantage Approach 14th ed., Harlow: Pearson.

Norton, D.P. & Robert, K., 2008. Mastering the management system. Harvard Business Review, 86(1), pp.62–77.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s