Strategic Management & Business Policy Research Proposal

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This is having a significant effect also on strategic planning as it forces organizations to respect, plan for and create value in their products and services that respect these cultural values.

Question 2: Compare and contrast the two models, strategic mgmt model, and the strategic decision making process, and reconcile the strategic decision making process with the strategic mgmt model. Do the two models complement each other or do they clash?

Comparing the strategic management model and the strategic decision making process show many similarities, with the greatest being the front-end process of scanning the external environment for risks and opportunities. There are also process workflows that specifically focus on how to react to risks, opportunities, interpret internal audit results (as is the case with the strategic management model for example) and also generate a select set of strategies based on this feedback. How the two models vary however is in their inherent design differences as they relate to speed of response. While the strategic management model is more of a structured, logical and therefore potentially longer to implement strategic direction, the strategic decision making process is inherently more agile.

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It is more capable of managing multiple interrupts during the process to get a decision more finely tuned to quickly changing external market conditions while focusing on internal constraints. Of the two, the strategic decision making process is more attuned to the more rapidly changing industries globally, while the strategic management model presupposes a steady-state enough industry to allow for a more formalistic planning process. Both are critical in organizations, with the strategic planning model needed for long-range planning and development of strategies based on a company's ore strengths. The strategic decision making process on the other hand is more attuned to the quick responses needed to quickly changing market conditions. Being able to react to the volatility of competitive factors and market conditions is the strategic decision making process' significant contribution to overall strategic planning in firms......

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