Strategic Management,1/e

PREFACE

‘Success is identifying your purpose; imagining the path and advancing’

A coffee table discussion with the Vice President of a bank led to the question ‘What is strategy?’. Frederick Taylor would have answered that it is the factor that inculcates initiative and enthusiasm among the employees to improve productivity; Ansoff would have answered that it is a plan, while Henry Mintzberg’s answer would have been that it can be a pattern, ploy, process, or practice, based on the learning from a situation. In the context of a highly individualistic and a competition-based society, Michael Porter would have stated that it is sustainable competitive advantage, arising from a positioning of a firm. Jay Barney or Teece would state it as the art ...