Course overview and reading assignments
Unit1 : Strategic management perspectives
Learning Material / Medium : Articles within course materials
In running a business with efficiency and systematic manner the authorities of the business to do a lot of research and conduct strategies from the researches. Strategic perspectives involve the overviews and methods which helps in solving the important problems. Strategic perspectives refer to the tactfulness careful formulation approaches in the business process and managing strategic management. Strategic management refers to the perspectives of a systematic process that helps a business organization make changes and improvisation using different methods and strategies within the business to achieve growth and sustainability. The paper has conducted the academicals view on the strategic management perspectives.
To analyze and give justification this paper has chosen two broad articles under that consideration the arguments have provided. The articles on strategic management perspectives are Strategic management process and the importance of structured formality, financial and nonfinancial information by (Nikolaos G. Theriou) (article 1) and Strategic management towards a theory-driven agenda by (Carola Wolf and Steven W. Floyd) (Article 2.).Herein the articles the academic supervisors talked about the strategic management and its various aspects that include strategic changes, structures, characterizations and rational perspectives in strategic development and growth. Moreover, the article has frequently talked about different opposing frequencies in strategic management and decision making in the business progress. The second journal has talked about the management accounting field with the help of theoretical background in strategic management and financial process. The first article which was mentioned in the paper previously has revealed perspectives of strategic management on the time and prior. Moreover, the author has talked about the significance of the correlation between organizational performances and strategic management. (Nikolaos G. Theriou) has stated the use of meta-analysis in the research perspectives of strategic management.
Synopsis refers to the concept of precise view on the conducted journal within limitation but full information about the journal. In this current context, the premise of the first journal provided by (Nikolaos G. Theriou) has discussed. The article 1 has focused on the investigation whether the strategic management development is in structural form of financial form. This article mainly focuses on the conceptual vision of strategic management in regards to financial operation and management operations as financial perspectives play a significant role in the strategic amendment. In addition to that, the article provides the statistical results of strategic management and development through proper implication.
Synopsis of Article 2 refers to Strategic management towards a theory-driven agenda by (Carola Wolf and Steven W. Floyd). This article is concerned with the perspectives of normative planning models regards to strategic management. Additionally, the article 1 has given a descriptive view on organizational plan and the relationship between organizational behavior and strategic management that has an impact on performances and productivity. Moreover, the article has focused on contingencies in the planning of strategy management and behavior.This article has elaborated on the operational prospects of planning in strategic management. Moreover, this article has also talked about on the role-plays of strategic management department and its authorities. Thus, the article has focused on all possible objectives of strategic management. Therefore the relationship between the two articles will be discussed in the following point in an illustrated manner.
In this context, the arguments on the articles and the relationship have been discussed. The Article one was concerned with the statistical and logical concepts of strategic management which relate to the perspectives of financial objects of the management (Mone, and London 2018.). This refers to financial planning as strategic management is a broad process where all aspects of a business organization convey the relation of financial objectives, socio-economic purposes, legal concept and financial planning of the business includes. Therefore, it can be said that the article insights on the strategic management and find out the different approaches of strategic management such as balanced scorecard (BSC), Total Quality Management (TQM) etc. While the article 2 has majorly focused on differentiating the relation between strategy development and organizational planning. It has described the relation of productivity of a business organization and the management of strategies in a fruitful way (Baumgartner, and Rauter 2017). Moreover, this article signifies combined categories on terminology, which are updated descriptive concepts of strategic management (Benner, and Tushman 2015). From the articles, it can be said, that the authors are agreed on both objectives in the strategic management while the arguments are present in the conceptual view. In other words, the concepts have a correlation in both of the articles whereas focusing on particularly one view creates a scope of arguments in it. In the articles, there is relation present as article 1 has provided discussion on the strategic management and financial planning while article 2 has revealed strategy development and organizational planning (Theriou, 2015). Thus, all these four objectives are connected together under one concept of strategic management. This article has a relation to management development implication, planning, and productivity (Wirtz, et al 2016). Therefore, these segments are the part of a strategic management as it can be said as in planning the financial objectives, strategy management; then to develop the strategy and lastly imply the strategy. This will lead the productivity to reach expected goals in terms of sustainability and growth in a business or work. Lastly, it can be said that these articles were fruitful and justified the concepts provided in strategic management.
According to the conducted research and papers provided by the article, it can be said that there are numerous concerns on managing a business with suitable strategies. Moreover, it can be seen from the arguments that doing research and conduction of the synopsis of these two articles provided help and further scope for work in it as strategic management consists vast concern for a business organization. Strategic management not only provides the advantages of systematic work but also provide the efficient work management in the business. The strategic management helps in achieving growth and sustainability in the business.