MN7405 Strategic Management Assignment Sample 

Introduction

Concise introduction

The essay focuses on providing a clear vision of the prospects related to a strategy being emergent. Strategy can be defined as a step or a general plan that is involved within the working process to achieve long-term and overall goals while executing the actions. It can be said that a proper invitation to strategic planning, helps in involving crystallisation of own intentions through articulating clear visions. The study focuses on providing developing ways in measuring progress. With the help of initiation to better strategic management, it leads to sharpening with identifying benchmarks (Soliman et al. 2019). An emergent strategy is a pattern of action that develops over time in an organisation in the absence of a specific mission and goals, or despite a mission and goals.

Overview

The concept of emergent theory has come from their framework where a set of actions are developed over time within organisations when there is the absence of missions and goals. As opined by Shamir (2021), there is a thin line between strategies being emergent and deliberate strategy. Deliberate strategy is the strategy in which the organisations are taken to be inciting with plans that are properly planned and carefully controlled. It can be said that there is a requirement for strategies to be emergent and one of the prime reasons behind it is it helps businesses in providing the staff that the customers want. For example, companies like Flickr, Nintendo, and PayPal use emergent strategies for upgrading the business to a fair level.

With The initiation of strategies being emergent, it focuses on the innovation results that are submitted by the employees of origination for improving culture. The concept of emergent strategy is calibrated by means of the situation and it leads to the initiation of boosting working culture along with employment prospects. For example, organisations like Southern Bloomers Manufacturing Company initiated the use of an emergent strategy for the production of their undergarments (Opentextbc.ca, 2018). Besides, in the case of Mark Zuckerberg, creating a platform named Facebook that became famous with 600 million active users is an example of emergent and realised strategies that turned into an adventure in entrepreneurship.MN7405 Strategic Management Assignment Sample

Research question

The research question for the study is ‘To What Extent Should Strategy Be Emergent?’

Aims

The aims of the study are as follows:

• To articulate the provision of a strategy being emergent
• To analyse the balance taking place between strategic renewal and strategic inertia
• To evaluate the prospects of strategic management theories and concepts to integrate a better balance between strategic renewal and strategic inertia

Structure of the assignment

The assignment is initiated to focus on the strategy that is required to be emergent to a particular extent. The Essay initiates by providing a concise introduction to the concept with an appropriate aim and objective. In addition, focusing on the overview of maintaining a balance between strategic renewal and strategic inertia, theories and concepts would be provided with focusing on real-life organisation examples, following up with a conclusion in summarisation of the arguments.

Main Body

Overview of a good balance between strategic renewal and strategic inertia

An industry always negotiates the value of a particular strategy at the time of implementing it. This negotiation has been done by analyzing two components that are strategic renewal and strategic inertia. The more a company can accurately calculate these factors it becomes easier to understand the extent that made a strategy top-notch of its emergence. The first essence which will be discussed for analyzing the good balance is strategic renewal. According to Warner, and Wäger, (2019) the long-term competitiveness that has been indicated by strategic directions are the main segments that clear out the procedure of adjusting outcomes and change are referred through Strategic renewal. Denigration of Strategic inertia has referred to a totally different concept. Chanias et al. (2019) said that an organization has followed a formal structure at the time of strategic change and new implementation. During this time, complex relationships among all the segments can be observed which demonstrated strategic action and interpreted performance. The situation, where change is needed in the strategic management and at the same time adaptation of new strategies become harder that decrease profitability by reducing productivity. Litvin et al. (2018) mentioned that at the time of strategy emergence, the vision of analyzing the relatedness is the vision of this essay. The purpose of making a proper balance between strategic renewal and strategic renewal and strategic inertia only be possible if the priority of an organization is mostly internal upliftment. Marinho et al. (2020) stated that a company when engaged to design the outlooks over internal prosperity and enhancement this balance situation appears. Analyzing both components it can be said that If a company will focus on the interior elements and essence more accurately the balance can be maintained properly.

Resource-based theory

First of all the Resource based Theory can be discussed. The resource based theory is one of the key theories in order to frame the strategic management. The theory argues that the resources are scarce, full of values and by any chance they cannot be substituted or imitated. In this theory, the main thing is to perform better with competitive advantage through using own strategic management and own resources of any organisation. Any firm, who possess the resource based theory in practices, they offer two types of condition. First one is the resource immobility and another is the resource heterogeneity. In practice, it is seen that some firms may possess these two factors which lead to the expectation that the firm either has no control over its resources or they have little control (researchgate.net, 2022).

On the other hand, the theory tries to conduct appraisal to the number of some core factors of any firm like the sustainable growth, heterogeneity of resources and diversified division. It can be stated that the resources based theory has the focus on only the firm’s output and strategic management and not for the industry overall. The strategic management theory also deals with the normative implications in order to manage the strategies rather than addressing the public one. The Resource Based theory often falls in the lower category of having a substantial managerial implications where it is seen that the managers are instructed for framing some resources but their processing and framing are not dictated.

On the other hand, the theory is criticized as the theory is only useful for bigger firms in the market which have some distinguished market power. In generating the capabilities, the theory also falls under the critics as the small firms have creative strategies in producing some comparative advantages. Because of the rules and regulations of any industry is fixed for certain time period, any unpredicted changes can lead to reject theory (researchgate.net, 2022).

Another challenge of the resource based theory is that the theory is not totally ready to achieve the comparative advantages in long run but in order to the dynamic frame or short run, the theory is useful. The theory also gets a critique that VRIN or valuable, rare, inimitable and non-substitutable resources are not necessary to achieve comparative advantage. In order to reach the CA or comparative advantage, the theory suggests that the immobility and uncertainty are necessary conditions for CA and profit maximisation and on the other hand, the firm-level innovation is also compromised for only a framed theory (mpra.ub.uni-muenchen.de, 2022).

For example, The Southwest Airlines possess the theory where they introduce the work culture sophisticatedly as the market is quite competitive and the resource are valuable. The airlines turns some profit every year as they have the organisational culture properly among their employees. Other airlines do not undertake the strategies of the southwest airlines as it is difficult to imitate. On the other hand, the organisational culture is applied with customer loyalty which is non-substitutable.

Survival-based theory

The Survival based theory for organisational strategic management states that the organisations always need to continuously accept and adapt the existing competitive environment for surviving. It is quite contrary to the resource based theory of strategic management. In this case, the efficiency is considered as the key to success in surviving as the company or any organisation can survive in the market if people or consumer purchase their goods or services which is only possible if the organisations have enough efficiency and offer best product in the market. Critical discussion says that no company can undertake only one strategy to survive the market rather they need to rely on several for efficient allocation of resources and better structural execution.

Main critique of the survival based theory can be the social Darwinism. The theory of Herbert Spencer which was the survival of the fittest was introduced in a new social and industrial way which was names as Social Darwinism (researchgate.net, 2022). The competition is accesses by the theory but their consequences of rapid competition is not stated in it. From the view of Adam Smith, the invisible hand theory is also linked which makes the theory more market oriented and the organisations which practice the theory do not try to follow any postured rule but always adapt the environment of the market to become efficiently fine for being the largest producer.

The theory also shows the challenging heights contrary to the probability theory where it relates the view of the evolution through naming the punctuated equilibrium for the organisational culture in competitive market. The theory does not challenge the natural selection mode of market mechanism where the organisation can foster as per the need of the society but being a competitive market, the theory critics the inefficiency of the heavy industries. On the other hand, it is also seen that the theory addresses the changes of the organisation in drastic, radical and fundamental ways (iaajournals.org, 2022).

From the theory it is seen that the survival of the fittest encores the life from the beginning and the organisations life is also describes as the initial phase. Thus they evaluate that no two firm with homogeneous functions can exist for long time without change and thus abolishment of another firm is definite. In the real world, it is not necessarily true that all the companies have abolished but the survival at the same pace have kept their competition alive till the date. Though the natural selection method is also supported by some scholar as they treat the organisations as species. The organisations must not to obey only one structure of strategic management rather should focus on the natural selection with several strategies.

For example, the Proctor and Gamble or P&G can be taken. Not only the company but also some others like General Electric or Kraft have undertaken the strategies. Since the great recession the companies tried to focus on their business values but their asset had to break up (Shi, 2021). In the competitive market, there are many companies like Proctor and Gamble and in this case, continuous research, adaptation of strategies for survival made the company stable and ever competitive in the market.

Contingency theory

Figure 1: Contingency theory

(Source: Safari, and Saleh, 2020)

Contingency theory shows how organizations are fully dependent on the internal-external situation of the industry. According to Safari, and Saleh, (2020) it can be said that continuous theory is capable to identify the importance of the internal and external factors for the growth of the industry. In that case, the organization needs to implement an appropriate strategy so that it can easily grow in the market. From this angle, it can be said that strategy emerge mint place an important role in the betterment of the. According to Gil and Pinto, (2018) it has been observed that contingency theory and strategy emergence are interlinked with each other. The core concept of contingency theory is that it is a way of running an industry with a proper decision. From contingency theory, it can be said that the leaders of the industries are able to choose appropriate decisions and adopt appropriate strategies that can suit the changes that have been made in the decision-making process. It has been observed that continuous theory can easily provide a realistic way of thinking to the management as well as to the organization. According to Prestiadi et al. (2019), this realistic thinking process can help the industry to apply a proper strategy for the betterment of the industry. Strategy enlargement is nothing but a way of incorporating perfect strategy for the better transparency of the industry. Angle it can be said that continuous theory plays an important role to provide a realistic strategic plan to the industry. On the other hand contingency theory provide an innovative ideal to implement strategies in the industry. According to Holmström, (2018) also, this particular theoretical framework is much more creative and innovative than the other theories of strategy implementation. It can be said that strategy emergent is an important part of an industry to lead the company perfectly in the market in that case having a theory that can help to bring innovation and creativity in the industry can make a huge change. When an industry is capable to provide demanded products in the market as per the requirements the industry can easily make a sustainable place in the market. Dirani et al. (2020) said that to hold that place, strategy management plays an important role in taking appropriate decisions. This theory has some limitations also like this theory is not have a proper theoretical base for which sometimes the leaders are not fully satisfied after implementing this particular strategy. Also, a critical situation can be influenced by main factors this particular theory is not able to find out all the factors that influence a situation. From this analysis, it can be said that when a strategy or theory is capable to capture a vast range of segments for a particular industry the strategy emergency and process will be satisfied. Because there is no meaning to using different strategies for different segments instead of differentiating all the strategies a particular strategy that is able to make and remarkable change in every segment and help every segment to overcome all the critical situations can easily be accepted in the industry. And the feature of covering most of the segment of an industry by a strategy can be said a proper strategy emergence in the industry.

Evaluation of perspectives and articulation of ideas

Strategy emergence is nothing but the way of implementing the bigger goals and taking initiative on behalf of the stakeholders by the managers in the industry. The study has been analyzing how much strategy emergent can be extended in the industry. To support this topic this study involves three theories which are mainly focused on the emergent strategy and the strategy implementation process in the industry. Also, the study is consisting of the balance of strategic interior and renewal. It can be said that this study can fully support the topic of the extension of strategy emergent in the industry. Because strategy emergence needs to be discussed for the better implementation of strategy in the industry.

Conclusion

The entire if he has focused on the consequences of errors at the time of strategy implementation. Besides being argumentative over the topic, it has also focused on being insightful. The factors that help strategy emerge in a Company are the main discussable areas of these essays. The initial part of this analysis is filled with introduction passages. The structure of this analysis, the procedure of the discussion, the focus of the study, and also the discussable segment have been indicated. After that, a precise overview of the topics has been given in this analysis. The main motto of this analysis is to give a proper critical analysis of appropriate theory concept and model that helps to strategic emergent. For that reason, three different theories like contingency theory, survival theory, and Resource-based theory have been included in this analysis. There are different aspects has been followed at the time of analyzing the theory. Firstly the main concept of the theory has been included after that the strengths and weaknesses and also the appropriateness with the present in mint has been established. The advantage of doing this analysis is to ensure that proper implementation of Strategies and models can help to increase the possibility of strategic emergence. The question that has been provided to answer in this analysis indicated the targeted areas to understand. During the analysis, it was kept in mind that all the Essential elements that approach the should be included. Unnecessary data and information that would increase the area of analysis will be cut down. For making a quality analysis there have been some mentioned points which help to make the precise structure. Throughout this discussion, it was the main motto to not all the segments that help strategy emerge in an organization. The advantage and disadvantages of strategic emergent indicated to a component that our strategic inertia and strategic renewal. As the analysis progressed, an overview of the procedure of maintaining a balance between the strategy in Asia and certificate renewal has been analyzed. This analysis helps to know about the relation between two different situations. At a time when an organization accepts changes into its segment but the implementation of strategy is important, what kind of thinking will help an organization has been mentioned. Depending on three different theoretical analyses and their relevance to the topic help to understand the need for innovation. The innovations that bring scope for upliftment are important. It is clear that all these points help to know about the interior segments and the way to flourish in a competitive market also. With the help of theoretical analysis and critical conceptual elaboration, this is has provided quality work with impactful outcomes. All the essential points have been included and along with it the future aspects and also been provided to give insightful analysis. It has been expected that in for the time if any kind of information is related to this topic can get benefit from the analysis.

Reference List

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