STRATEGIC MANAGEMENT THEORY

"A vision without a task is a dream; a task without a vision is drudgery; a vision, with a task, is victory."

No fewer than ten essential models that have informed the science (and some may say "art") of business strategy were capsulised recently in a Financial Times of London analysis thoughtfully entitled "Strategy, blind men and the elephant."

Its introduction bears quoting at some length, since it will also serve as the thematic guideline for this analysis.

We are all like the blind men and the strategy process is our elephant. Everyone has seized some part or other of the animal and ignored the rest. Consultants have generally gone for the tusks, while academics have preferred to take photo safaris, reducing the animal to a static two dimensions ("Strategy", 1999, 6).

It is apparent that there are many theories concerning how to make effective decisions for the future. What is less apparent is the degrees of success each of the theories generates. This paper shall analyse the 10 major theories that were presented in the above-quoted article, in an attempt to help solve the assigned dilemma, which is, specifically, how a given company in the United Kingdom might solve the following problems.

A. How can the company, using suitable and verifiable (within reason) models, analyse its environment and its capabilities?

B. How can that same company then analyse its strategic choices?

C. What implementation tools are available to the s

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