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Essay / Research Paper Abstract
A 5 page paper summarizing three articles, each of which discusses a separate aspect of strategy formation. Eisenhardt (1999) stresses the speed with which organizations must move in order to lead their industries rather than follow; Keats and O’Neill (2001) demonstrate the need for an organizational structure that contributes to competitive advantage; and Leidkta (2001) highlights the need for free and multidirectional discussion of issues affecting the organization and its industry. These authors demonstrate why all of these factors are essential. Bibliography lists 8 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_KSmgmtStratArt.rtf
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Unformatted sample text from the term paper:
(2001) quotes a 1998 observation by Mintzberg, Ahlstrand and Lampel, aptly describing many organizations approach to formulating strategy: We are the blind people and strategy formation is our elephant.
Since no one has had the vision to see the entire beast, everyone has grabbed hold of some part or other and railed on in utter ignorance about the rest
(in Liedtka, 2001; p. 70). The problem with strategy formation is not that organizations are unable to accomplish the task, but rather that
they often are unable to identify what it is that they want to accomplish for themselves over the short-, mid- and long-term. In todays business environment, "long term" often
is no longer than two or three years, and certainly no longer than five years. Though organizations do need to look more than only a few years into the
future, the rapidity with which technology and markets change in todays business environment makes it impractical to use an inordinate amount of time to formulate strategy dependent on a scenario
that well could be obsolete in only a few years. Primary Articles Eisenhardt K.M. (1999, Spring). Strategy as Strategic Decision Making. Sloan Management Review, 40(3), p. 65.
Eisenhardt (1999) assesses strategy from the perspective of its being a function of "strategic decision making, especially in a rapidly changing market" (Wong, 2005).
Eisenhardt (1999) concludes that "strategic decision making is the fundamental capability leading to superior performance" (Wong, 2005). In this light, it is crucial that senior management be able to
weigh the information they have and make decisions quickly, with the goal of changing the companys direction and generating new competitive advantages (Wong, 2005).
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