Strategy, Change And Innovation Essay

2439 words - 10 pages

Strategy, change and innovationWe are told by writers on strategy that we should keep the environment under constant review. Form the point of view of strategic management, what is the practical use of knowing what is going on in the environment? Can environmental scanning tools be distinguished in terms of ( a ) the information they provide and( b ) the use that can be made of that information, and which tools would you use in what circumstances?IntroductionStrategy - There is no absolute answer about what is strategy, as it will change with its external and internal environment. According to the Henry Mintzberg (1994, The Rise and Fall of Strategic Planning), he pointed out that people use "strategy" in several different ways, the most common being these four:Strategy is a plan, a "how," a means of getting from here to there.Strategy is a pattern in actions over time; for example, a company that regularly markets very expensive products is using a "high end" strategy.Strategy is position; that is, it reflects decisions to offer particular products or services in particular markets.Strategy is perspective, that is, vision and direction.Mintzberg argues that strategy emerges over time as intentions collide with and accommodate a changing reality. Thus, one might start with a perspective and conclude that it calls for a certain position, which is to be achieved by way of a carefully crafted plan, with the eventual outcome and strategy reflected in a pattern evident in decisions and actions over time. This pattern in decisions and actions defines what Mintzberg called "realized" or emergent strategy. May be you will ask, what kind of reasons will make strategy not work. There are a few examples:Condition changeCustomers didn't respond the way we had hoped.The organisation resisted changeThe skilled that we need is not develop in timeIn this case, a constant review of the environment may able to reduce any dissatisfaction of the failure of the strategy.In describing external analysis, Fahey and Narayanan (1986) suggest that organizations scan the environment to identify changing trends and patterns, monitor specific trends and patterns, forecast the future direction of these changes and patterns, and assess their organizational impact. Merged with internal analysis of the organization's vision, mission, strengths, and weaknesses, external analysis assists decisionmakers in formulating strategic directions and strategic plans.The goal of environmental scanning is to alert decisionmakers to potentially significant external changes before they crystallize so that decisionmakers have sufficient lead time to react to the change. Consequently, the scope of environmental scanning is broad.Environment Domains is a very board area, External environment refers to those people, resources, leadership and communication structures existing outside the organizational structure which may involve the following sectorIndustry sectorRaw material sectorFinancial...

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