Fundamental Issues in Strategy

Strategic Firms
1. Selection of goals
2. Choice of products and services to offer
3. Design of policies
4. Level of scope and diversity
5. Organization structures
6. Administrative Systems
Strategic Management
1. Field of inquiry
2. Grounded in practice
3. Very important subject
4. Younger than its practice
5. Originated in business schools
Academic spread
1. Harvard pioneered
2. Business Policy was the subject
3. The course became standard
Origins
1. 1962
  1. Foundation
2. 1970
  1. Structure stablished
  2. Studies
    1. Connection between strategy and performance
3. Planning
4. Institute of Management Sciences
5. Smith, Andrews, Chandler, Ansoff, Porter
Corporate Strategy
1. Two aspects
  1. Formulation
    1. Processes themselves to formulate strategy generate assets
  2. Implementation
2. Uncertainty
  1. leads to
    1. Tentativeness
    2. Search
    3. Serial trial
Economics
1. Initial objetives
  1. Understand what generates efficient goods and services
  2. Understand what determines distribution of wealth
2. Now led by internal logic
Organizational Sociology
1. Concerned with social interaction
2. Authority is a key source of social order
3. System of exchanges generates value
The fundamental questions in strategy
1. They act to define a field of inquiry
  1. Why are there firms?
  2. Why are firms different?
  3. How do firms behave?

Resource summary

	Created by Richard Mejía about 9 years ago