Towards a philosophy of strategy: reassessing five critical dilemmas in strategy formulation and change

✍ Scribed by John A. Parnell; Donald L. Lester

• Book ID: 102426854
• Publisher: John Wiley and Sons
• Year: 2003
• Tongue: English
• Weight: 110 KB
• Volume: 12
• Category: Article
• ISSN: 1086-1718
• DOI: 10.1002/jsc.639

✦ Synopsis

Abstract

Although there has been a considerable amount of prescriptive research in the strategic management field, top executives are still faced with a number of somewhat philosophical ‘judgment calls’ when formulating strategies for their companies.

Five of these key issues include: (1) approaching strategy as an art or as a science; (2) publicizing strategy content or maintaining its secrecy; (3) seeking strategic consistency over the long term or maintaining flexibility; (4) embracing or avoiding strategic risk; and (5) adopting a top‐down or a bottom‐up approach to strategic planning.

This paper examines the predispositions of managers concerning these challenges and integrates them into four comprehensive philosophical approaches to strategy formulation. Prospects for future research are also presented.

Copyright © 2003 John Wiley & Sons, Ltd.