Critically discuss the approaches to developing strategy. Is there evidence in todays business world to suggest there is one best way?
- Critical analysis of the different approaches to developing strategies
- Modernism strategy
- Post-modernism approach
- Emergent strategy
Nowadays, in this context of fast changing environment in today's business world, the major part of companies use a strategy to approach the future, to ensure the continuation of the company, and anticipate factors associated with the external and internal environment. In this corporate strategy context, it exists different ways to reach purposes and essential policies to achieve those goals, but if the business world is viewed as being complex, one question is fundamental: which strategy to adopt? Is there a best way? And in this view, which is the way is the best way?
This essay is a critical analysis of the different approaches to developing strategies. To discuss if there is a best way to succeed in today's business world, in one hand it is essential to understanding what is a strategy and identify which kind of different ways exist. In the other hand, Chandler (1962) defines globally the strategy like this:? That's the determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals.? In this based-view there are two main approaches.