Definition and Levels of Strategy

2020 ◽  
pp. 7-10
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Decision Making ◽  
Competitive Advantage ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Diverse Range ◽  
Sustainable Advantage ◽  
Challenges And Opportunities ◽  
Managerial Level ◽  
Corporate Level ◽  
Selection Of

This chapter defines strategy as a diagnosis that defines or explains a business challenge or opportunity, a decision or set of decisions for dealing with the challenge or opportunity, and a coherent set of actions to deliver on the decisions so as to create sustainable advantage and superior returns over rivals. In this chapter we also distinguish between three key levels of strategy: (1) corporate-level strategy, which is concerned with the selection of business areas in which the company should compete and with the development and coordination of that portfolio of businesses; (2) business-level strategy, which is about developing and sustaining a competitive advantage for a business delivering an identifiable set of products and/or services; (3) managerial-level strategic decision-making, which is concerned with identifying and dealing with a diverse range of immediate strategic challenges and opportunities confronting a business.

The Context for Strategic Decision-Making

2020 ◽  
pp. 11-15
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Decision Making ◽  
Competitive Advantage ◽  
Core Competencies ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Strategic Decisions ◽  
Firm Resources ◽  
Cost Leadership ◽  
Environmental Attributes ◽  
Corporate Level

Strategic management does not exist in a vacuum; strategic decisions are strongly influenced by, and often dependent on, certain organizational and environmental attributes. This chapter discusses the context for strategic decision-making, be it a managerial, business, or corporate level choice. First, a firm’s vision, mission, and values are defined and discussed. Second, the chapter unpacks firm resources, capabilities, core competencies, and activities. Finally, the nature of competitive advantage is elaborated, and three types of competitive advantage are distinguished: differentiation, cost leadership, and dual advantage. Overall the chapter provides foundational insight into the factors that make up the context for strategic decision-making.

Information Systems for the Management of the Organizations

2018 ◽  
pp. 313-346
Author(s):  
Antonio Juan Briones Penalver
Keyword(s):  
Decision Making ◽  
Global Economy ◽  
Relevant Information ◽  
First Century ◽  
Strategic Decision ◽  
Industrial Society ◽  
Strategic Decision Making ◽  
Relationship Of ◽  
The Relationship ◽  
Selection Of

This chapter investigates the main concepts and activities of information in strategic decision-making systems. Since information became the global economy value source for organizations, information assumes a key role in contributing to the development of the performance of organizations through the selection of relevant information for businesses. The relationship of the strategic management of information with business activities contributes to the process of strategic decision making for more effective and efficient decisions. The understanding of the importance of information as a strategic resource in the management of organizations is becoming more important to strategists than the formulation of strategy models of industrial society. In the twenty-first century, no manager will be able to set and implement the strategy successfully without a basic understanding of information for strategic decision making.

The Evolution from E-Commerce to M-Commerce

2012 ◽  
Vol 8 (1) ◽  
pp. 1-16 ◽  
Author(s):  
Esther Swilley ◽  
Charles F. Hofacker ◽  
Bruce T. Lamont
Keyword(s):  
Decision Making ◽  
Competitive Advantage ◽  
Model Misspecification ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Strategic Decisions ◽  
Firm Capabilities ◽  
Isomorphic Pressures

This study focuses on the isomorphic pressures and firm capabilities that affect strategic decision-making in organizations in the context of m-commerce. The authors take into consideration that the three isomorphic forces set forth by DiMaggio and Powell (1983), mimetic, coercive and normative pressures, work together to impact strategic decisions based on stakeholder influences. This study found that the effects of mimetic pressures seen in results of previous studies may be the result of model misspecification. Findings also indicate that firms want to leverage capabilities gained from e-commerce in the m-commerce wave in order to gain a competitive advantage in the marketplace

Unbundling dynamic capabilities in successful Asian-Pacific shipping companies

2017 ◽  
Vol 11 (2) ◽  
pp. 113-134 ◽  
Author(s):  
Andrejs Čirjevskis
Keyword(s):  
Decision Making ◽  
Competitive Advantage ◽  
Dynamic Capabilities ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Illustrative Case ◽  
Competitive Advantages ◽  
Content Type ◽  
Asian Pacific ◽  
Micro Foundations

Purpose This paper aims to add to the understanding of dynamic capabilities (DC) as sources of competitive advantage of successful Asian-Pacific shipping companies by demonstrating that DC development unfolds in three steps, from recognition that the environment has changed, to the decision to deploy DC, to assets re-orchestration. Design/methodology/approach Based on an approach involving two illustrative case studies, the author analyzed DC development of Chinese and Singaporean-based shipping groups in depth. The analysis was centered on DC by investigating how strategic decision-making on vertical integration, diversification and implementation of new technologies can be underpinned by developing DC to create sustained advantages. Findings The author found that strategic components of DC are rooted in strategic decision-making to initiate changes on the corporate and even on an operational level. Research limitations/implications While capability development is thoroughly studied, capability erosion has not been integrated into the research. The exploration of human capital as a firm’s idiosyncratic resource in assets orchestration capabilities can be future work. Practical implications The proposed research contributes to the debate on micro foundations of DC and provides insights for practitioners striving for retaining competitive advantages. Social implications Regarding implications for the society, the research shows how the DC serve to generate competitive advantages. The author has presented a logical structure of the competitive advantage paradigm as a product of DC and business models that can be useful to decision makers. Originality/value The research offers insights into the composition of micro foundations of DC and demonstrates that DC can be unbounded into well-known and concrete strategic and operational management activities.

scholarly journals The Competitive Cohort: An Extension of Strategic Understanding

1970 ◽  
Vol 28 (2) ◽  
pp. 97-122
Author(s):  
Gerald Flint ◽  
David Van Fleet
Keyword(s):  
Decision Making ◽  
Competitive Advantage ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Strategy Formulation ◽  
Strategic Group ◽  
Organizational Goals ◽  
Sustained Competitive Advantage

The use of referent others to establish the concept of competitive cohortsis presented as a way to extend the understanding of strategic decision making inorganizations. The competitive cohort concept does not replace other perspectivesof the firm, industry or strategic group definitions, strategy formulation, or decisionmaking, but rather, helps in understanding how organizational goals are establishedand performance is shaped and measured. The use of the competitive cohort conceptmay also give a new coherency in and view of the concepts of competitive advantageand sustained competitive advantage.

scholarly journals Competitive advantage and fuel efficiency in aviation

2011 ◽  
Vol 22 (2) ◽  
pp. 75-91
Author(s):  
Adam D Reiman ◽  
Alan W Johnson ◽  
William A Cunningham
Keyword(s):  
Decision Making ◽  
Organizational Culture ◽  
Competitive Advantage ◽  
Dynamic Capabilities ◽  
Fuel Efficiency ◽  
Efficiency Index ◽  
Strategic Decision ◽  
Aviation Industry ◽  
Strategic Decision Making ◽  
Effective Use

This paper builds upon a resource based view of competitive advantage under a dynamic capabilities construct. Fuel efficiency measurement in the aviation industry can be incorporated into dynamic capabilities such as strategic decision making and alliancing. These dynamic capabilities can drive operational cost reductions, which in-turn can enhance profitability and establish a competitive advantage. To further this advantage, fuel efficiency can be embedded inside an organizational culture. A fuel efficiency focused organizational culture can be a valuable, rare, inimitable and non- substitutable resource. This paper proposes a model to merge the dynamic capabilities of strategic decision making and alliancing with organizational culture under fuel efficiency. Under this model, a fuel efficiency index is introduced to drive behavior and provide accountability. Effective use of the index has profit potential.

scholarly journals Editorial: New challenges and opportunities in strategic decision making

2021 ◽  
Vol 2 (1) ◽  
pp. 4-6
Author(s):  
Mario Situm
Keyword(s):  
Decision Making ◽  
Business Strategy ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Recent Issue ◽  
Challenges And Opportunities ◽  
New Challenges ◽  
Future Work

We are pleased to present the recent issue of the journal “Corporate and Business Strategy Review”. In this issue, current findings from the research are presented, which will support researchers with ideas for future work and provide managers and consultants with resources to support the development of solutions and assistance in decision-making.

Economic AI Literacy

2021 ◽  
pp. 135-152
Author(s):  
Dirk Nicolas Wagner
Keyword(s):  
Artificial Intelligence ◽  
Decision Making ◽  
Competitive Advantage ◽  
Business Models ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Information Goods ◽  
Economic Agents ◽  
Business Transformation ◽  
Economic Reasoning

This chapter introduces the concept of economic AI literacy as a source of competitive advantage in a world where artificial intelligence (AI) complements and transforms business models. The purpose of economic AI literacy is to allow for enhanced strategic decision making in firms that either offer and/or use AI. Data and information goods, economics of networks, and economic agents in artificially intelligent firms are introduced as basic elements of economic AI literacy. To illustrate application, the case of TensorFlow and related cases are presented. The discussion highlights the strategic relevance of economic reasoning in the light of the expected effects of AI on business transformation.

Sign in / Sign up

Export Citation Format

Share Document