1.2 The meaning of strategy Flashcards
Pettigrew & Whip (1991) set out three elements behind any strategic decision. What are these?
1) Context - the environment within which the strategy operates.
2) Content - the main actions in the strategy
3) Process - the “plan” - how actions link together
Clegg et al (2017) state that:
Strategy = Knowledge + Capability
Explain these terms
Knowledge is required to enable a human being to imagine a future state of affairs and how to arrive at this future state.
Capability is the power to actually get things done - i.e. to implement plans.
What is a “vision”?
The ability of the human brain to imagine something different to the current situation.
What is a “mission”?
The ethos, belief and values which enable the forming of a vision.
What are “objectives”?
Criteria which identify differing aspects of the vision and mission.
What are “goals”?
Specific and desirable outcomes which enable identification of progress toward outcomes.
What are “actions”?
Steps required to achieve goals and objectives.
What is “planning”?
Bringing together of objectives, goals and actions in a cohesive and comprehensive manner to enable a vision.
What is a “review”?
A process by which the strategic journey is evaluated.
What is meant by “iteration”?
Repetition of a process or action to clarify an outcome or to apply slightly different criteria.
What is meant by “success”?
The achievement of goals or objectives. i.e. meeting expectations.
What is meant by “risk”?
Any situation or decision with more than one possible outcome.
What is meant by “uncertainty”?
The impossibility of visualizing every possible outcome.
What is meant by “control”?
A step taken to reduce perceived risks or uncertainties.
What is meant by “values”?
Beliefs and principles which drive decision making, opinions and attitudes.
