Strategic management is a relatively youthful discipline that has steadily matured over the past fifty years. A few of the key business and academic events that have helped the field develop are discussed next. Strategic management is a broader term than strategy and is a process that includes top managements analysis of the environment in which the organization operates prior to formulat ing a strategy, as well as the plan for implementation and control of the strategy. The term strategic management is used to denote a branch of management that is concerned with the development of strategic vision, setting out objectives, formulating and implementing strategies and introducing corrective measures for the deviations if any to reach the organizations strategic intent. Strategy the word strategy has so many meanings itself and all these meanings are useful, important and relevant to the people who.
Origins, development, strategic management knowledge, historical perspective. Business schools with personnel management strands were established in most australian states during the 1950s, encouraged by the development of the national professional association, ipma, with members in victoria, new south wales, south australia, western australia and queensland. Historical development of strategic management strategic management can be traced back to 1950s and 1960s and the most influential pioneers were alfred d. History and background of strategic human resource. Perspectives on strategic planning university of south. A brief history of the concept 8 a multiplicity of meanings assumptions and metatheories 20 strategists and stakeholders 26 the social web and the political process of strategy making 33 2 thinking and acting strategically 43 case study scenariothe ikea way 44 the distinction between strategic thinking, strategic management and. The impact of strategic management on organisational. Department of business administration anambra state university igbariam campus nigeria abstract. Strategic thinking and subsequent management must result in action. Strategic management, small and medium enterprises, organizational development. Business strategyhistory of business management until the.
The historical development of the strategic management discipline. Strategic management has been important throughout history, but the evolution of strategic management into a field of study has mostly taken place over the past century. The development of strategic management began in the 50s, influenced by a number of experts from a variety of disciplines. Introduction to sea history of development of strategic environmental assessment history of environmental assessment in the western countries began in 1969, with adoption of national environmental policy act1 by congress of the united states. Historical development of the strategic management concept free download as pdf file. Moreover, knowledge of the history of management accounting will facilitate an understanding of the future of this profession. The first modern school of thought on strategic management is what has been called the design school french 2005.
Strategic management as a discipline originated in the 1950s and 60s. Jagdish sheth, a respected authority on marketing and strategic planning, provides. Strategic management is defined as a process of specifying the objectives of the organization, developing policies and planning to achieve the objectives, and then allocating resources so that plans can be implemented. A thorough understanding of the history and development of management accounting is required before the gap between education and practice can be investigated. The strategic development process is defined here to embrace the management processes that inform, shape and support the strategic decisions confronting an organisation. The field has become consolidated over this period, while simultaneously expanding the range of topics analyzed and research methodologies used. Ltasks of strategic management lstrategic management is an ongoing process lwho performs the tasks of strategy lbenefits of managing strategically strategic management the art and science of formulating, implementing, and evaluating crossfunctional decisions that. Human resource management hrm, evolution, history introduction defining human resource management hrm according to armstrong 2006 human resource management hrm is defined as a strategic. The beginning of the development of this innovation in management drew on concept of strategy going back through thousands of years. This divergence therefore calls for further studies on how strategic management should feature in the development of smes. This paper examines the issue of the historical development of the knowledge dubbed strategic management. A few of the key business and academic events that have helped the field develop are discussed next figure 1.
It highlights the different perspectives of strategy that have emerged from. Historical development of strategic management birth of strategic management. The history of strategic management 2012 book archive. Strategic management is a way to transform the existing static plan in a proper systematic process. Special thanks is extended to those who participated in the case studies by sharing the details of their strategies. The historical development of the strategic management. This article traces the history of strategic planning from its ancient greek origins through early 20th century and modern corporate practices, to recent public sector efforts. The history of strategic management can be traced back several thousand years.
Military history is filled with stories about strategy. Defining strategic management, planning outline l why strategic management. Introduction small and medium scaled enterprises smes are no longer exempt from environmental conditions that. The report focuses on three relevant issues regarding. The process of strategic management is a comprehensive collection of different types of continuous activities and also the processes which are used in the organization.
The impact of strategic management on organisational growth and development a study of selected manufacturing firms in anambra state muogbo u. European journal of business and strategic management issn 2518265x online 25209183 print vol. Strategic management can have some immediate changes in the organization. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in. Their input, advice, and lessons learned, both successes and failures, have been incorporated into this document so that we may all apply better strategic management processes in our organizations.
Strategic surprisingly, here there is ready agreement. Strategic planning to strategic management strategic planning to strategic management. Chandler, philip selznick, igor ansoff and peter drucker. Until the 1940s, strategy was seen as primarily a matter for the military. Explain the setting in which management theory first developed.
Schendel and hofers book strategic management 1979 and the almost contextual establishment of the strategic management journal smj in 1980, and the strategic management society in 1981 dagnino and cinici, 2016. Pdf the evolution of strategic management research. Pdf on jan 1, 1996, peter mckiernan and others published historical evolution of strategic management, volumes i and ii find, read and. The purpose of this chapter is to explain the origins of strategic management. Evolution of the strategic management linkedin slideshare. Strategic management involves the related concepts of strategic planning and strategic thinking. It is hoped that this approach will be informative and practical to both the academic as well as the casual reader. History and background of strategic human resource management with the development of information technologyoriented hightech, internet and ecommerce applications, the human and the new economy knowledgebased economy, knowledge of the decisive role in creating organizational competitive advantage is increasingly obvious. Strategic thinking and strategic management strategic planning is only useful if it supports strategic thinking and leads to strategic management and, even more importantly, execution. Great wisdom about strategy can be acquired by understanding the past, but ignoring the lessons of history can lead to costly strategic mistakes that could have been avoided.
Additionally, the secondary goal is to evaluate the implications for strategic information technology management. The plan is aligned with the universitys mission and nested within the universitys strategic planning and execution framework. But subsequent experience with strategic planning led to mixed results. This document, the ku hrm strategic plan, describes the strategic themes and goals for the department. Strategic planning was a plausible invention and received an enthusiastic reception from the business community. Strategic management advantages and disadvantages wisestep. They have some specific mission towards which all efforts are directed. Jofre foreword the present report is the result of an ongoing study on the patterns and trends on both the theory and practice in the field of strategic management. First, the background or history of strategic planning will be touched upon. The theory and practice of strategy in business organizations s. This section also briefly traces the development of strategic management as a field of study.
A strategic plan is developed from a series of though managerial choices, and it commits this company to specific procedures, policies, operations and markets in lieu of others, which are considered to be less desirable for the companys future development. In a world that is becoming ever more subject to change. Also, according to ketchen, boyd and bergh 2008, the strategic management journal. The historical development of the strategic management concept. Chandler recognized the importance of cocoordinating. Strategic management and small and medium enterprises. Of course, this is not a feature of the strategy discourse alone, for as halliday argues growthism, or the favouring of ideas of growth, development and expansion. History of management thought the evolution of management theory upon completing this chapter, you should be able to. A summary non exhaustive list of possible qualifications comprises. The strategic approach to management is as old as warfare, and it even has military origins. Strategic management is considered to be the highest level of managerial activity that the top management of the organization.
Strategic management theories by richard scroggins capella university, united states. In this article, i examine how the concept of strategy has evolved into the field of strategic management, a definition of strategic management is developed from commonalities of past definitions and a selected overview of approaches to operationalizing strategic management is. Pdf historical evolution of strategic management, volumes i and ii. Later attempts to bring science into management included the development of the theory of. Branislav 2014 stated that the application of strategic management practices helps firms in exploiting and creating new and different opportunities for tomorrow. The subject is situational and so a script will never be enough but is meant to imbibe in student a sense and direction of tact of management. Strategic management is a field of study, academic discipline and a business area. The strategic management subject is in effect since history but has been taught as a syllabus of recent, to win over the various limiting factors attached with the organisation. The study investigated the impact of strategic management on organizational growth and.
Therefore, given to these questions, the importance of strategic management should be further investigated. The history of strategic management mastering strategic. Key elements of strategic management mba knowledge base. Mckiernan 1996 and is credited to a military planner, turned management academic. Historical development of the strategic management concept scribd. Much knowledge has been generated during the different phases of the development of the concept or discipline.
Although there were numerous early contributors to the literature, the most influential pioneers were alfred d. Strategic management is a continuum of successive stages such as. Almost from the beginning of recorded time, leaders contemplating battle have devised offensive and counteroffensive moves for the purpose of defeating an enemy. Santayanas quote has strong implications for strategic management.
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