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Essay / Research Paper Abstract
An 8 page overview of the sometimes conflicting aspects of business management. This paper points out that while traditional business management has emphasized such aspects of business as productivity and supply verses demand, less rigid aspects are also important in insuring business success. These include flexibility, creativity, intuition, integrity, leadership and communication. Bibliography lists 8 sources.
Page Count:
8 pages (~225 words per page)
File: AM2_PPbusMnd.rtf
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Unformatted sample text from the term paper:
Business strategy is often limited to the hard analysis of such factors as supply and demand. In actuality, there are many more considerations which should
be made in devising business strategy than those that can be numerically analyzed. Strategic thinking is one of these factors. There are of course rational aspects of strategic
thinking which entail a certain degree of number crunching and logic. We tend to forget, however, that the more esoteric concepts such as creativity and intuition can play as
important of a role in business strategy as more traditional forms of logic and mathematical analysis. Strategies such as generative thinking is a particularly important component of this
aspect of strategy (De Wit, 1999). Equally important in this looser form of business strategy is the ability to communicate and lead. Krzyzewski (2000)terms this type of strategy
as "leading with the heart". Most basic industries have undergone real struggles at some point, or perhaps several points, in their
histories to become more efficient and productive (Freeman, 1995). The driving force behind this struggle of course is the bottom line of finances, of input verses output in relation
to the amount of money cleared from the business activity (Freeman, 1995). Productivity, in fact, is often measured in monetary terms (Freeman, 1995). M.E. Porter in his "Competitive
Strategy: Techniques for Analyzing Industries and Competitors" describes a five force model which can be used to describe the information systems industry. Using his model it becomes obvious that
the profitability potential of the industry is dependent on his five forces: suppliers, buyers, competitive rivalry, product substitutes, and the companies who although they are not yet competitors in
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