Creating global business competence : the role of strategic management

• Main Author: Scott, George Alastair
• Language: en
• Published: 2009
• Subjects: Strategic management; Management for competitiveness; Management of the enterprise; Management of the organisations of the future
• Online Access: http://hdl.handle.net/10500/216

The tension uncovered during this study is between two worlds: the very pragmatic and enormously challenging world of managing in a rapidly changing and highly competitive global market, and the scientific world of strategic management thinking and the concern that contemporary strategic management is unable to deal effectively with the modern dilemma of globalisation. This dilemma is as a result of change; before a current scenario can be solved, the next evolution of scenarios is upon the business community. In today's turbulent world, globalisation is sweeping away the market and industry structures that, historically, have defined competition. Swept away with them are the classic approaches to strategic management, nearly all of which mistakenly assume that a predictable path to the future can be paved from the experiences of the past. The solution: Strategy should be dynamic and should change constantly in order to contend with external turbulences. Organisations should brace themselves for a future of hyper-competition. They should respond to these rapid changes in the business environment by adopting a new approach to strategy, one that combines speed, openness, and flexibility. Organisations need: an ability to sense changes in their environment; an ability to understand the impact, of this change, on the whole; a willingness to adapt to change; and an ability to adapt. Experimenting with new strategies is also important. Constant testing, adaptation and building on what is found to be successful with customers is the way ahead, especially when one is trying to re-invent the value provided, or the way in which it is produced and delivered. The overall purpose of this experimental strategic learning and management process is to establish which strategic options or elements thereof are robust across the possible competitive scenarios, and use the healthiest elements to develop your strategic intent - your core strategic focus or theme.