Week 1 - Intro To The Module

Question 1

There are various definitions of strategy

Answer 1

• ‘A long-term direction for organisations’ (Johnson et al, 2017)

• ‘The overall plan for diversified company’ (Porter, 1987)

• ‘A flow of goal-directed activity over time’ (Mintzberg, 1990; Jarzabkowski, 2005)
- What porter is saying demonstrates that strategy is not well understood
• organisations and executives don’t know what their strategy is/needs to look like

Question 2

3 fundamental elements/pillars of strategy

Answer 2

1) Where should a business compete?

2) How should a business compete?

3) How should a business execute its strategy?

Question 3

To Whom does strategy matter? Principles of strategy can be applied to any type of organisation


Answer 3

• Profit seeking (large or small, chain or independent)

• Public (government, NHS, universities)

• Third-sector (charity, local church, professional body)