Prescriptive and emergent approaches for developing strategies

Prescriptive and emergent approaches for developing strategies Introduction The concept of corporate strategy battles with the perennial issue of determining the overall purpose and scope of an organisation. From a contemporary perspective, it involves the specification of long-term goals and objectives that will add value to the business and cope with the uncertainty of modern times. As a practice, it consists of adopting courses of action and allocating resources in ways necessary for carrying out the overall objectives. Widely recognised as the most principal theories for strategy development, the prescriptive and emergent approaches must be examined within the context of an increasingly dynamic, highly competitive and global business environment. Powerful external forces are driving organisations to reduce costs, enhance processes and identify new opportunities for growth. Many businesses are compelled to make dramatic improvements not only to compete and prosper but also merely to survive. This brings to the fore the importance of determining how effectively the prescriptive and emergent approaches can meet the needs of todays businesses when formulating strategy. The Prescriptive Approach The prescriptive approach regards strategy development as a systematised and deterministic process where analysis of the organisation, its performance and external environment leads to the formation of a rational, long-term plan. Senior management is in charge of defining the final objectives and the plan is then put into action through the successive layers of the organisation. Techniques which feed this process include Porters heavily structured Five Forces model for analysing industry and Value Chain Analysis which highlights existing capabilities as a solid basis for competitive advantage. It is pointed out by Ansoff that firms in fast-paced, competitive environments who use a systematic process for strategic planning very often go on to dominate their marketplace. Their logical, analytical approach allows them to devise predictive and pre-emptive strategies from which they can meet new opportunities head on. For instance, in 1995 EasyJet used incredible foresight to introduce low cost flights allowing it to take advantage of a more cost-conscious European Market. Whats more, this approach makes it possible to organise complex activities and exercise a greater degree of control over different business units. For example, Tescos planning process resulted in well defined long-term goals and clear boundaries for its UK core business, retail service, non-food and international sectors. It has succeeded in achieving consistent growth and profit in all of these areas over recent years. Strategy formation which places a lot of weight on existing capability strengths is thought to be a secure basis on which a firm should define itself and optimise its position, particularly in times of rapid and turbulent change. For example, Motorola has successfully met the needs of emerging markets by using its fundamental technological strengths in electronic components to progress from supplying TVs and car radios to offering telecommunications services. From a contrary perspective,ÂÂ  Johnson states that the prescriptive model contains many assumptions that are unsustainable in todays business world. The logical approach implies that strategy development is always deliberate and that strategies are realised according to plan. However, empirical research by Mintzberg discounts this, highlighting that realised strategy tends to be only 10 to 30 percent of the intended strategy. This is mainly because unpredictable events, such as the introduction of new regulations or technologies, will regularly act to force the original strategy off its course. Additionally, the prescriptive approach to planning falls short in allowing for any learned elements to be absorbed into the strategy and so can limit an organisations ability to respond flexibly in todays rapidly changing environment. The narrow-minded manner in which it focuses on established areas of business and capabilities can hinder serious transformational change where reinvention is required. A further criticism is that the prescriptive model fails to complement modern organisational cultures where employees at lower levels are included in the decision making process. This type of involvement is frequently found in small or medium sized businesses. As a result, organisational creativity can be stifled and employee dissonance may occur as it is at these levels that work processes are most fully understood. The Emergent Approach Mintzberg put the idea forward that strategies can be unplanned, developing incrementally over time as a businesses actions adapt to a changing reality. Instead of meeting a premeditated plan, he argued that strategy evolves through a process of learning, adjustment and experimentation. Formulation of strategy runs parallel to implementation and managers at multiple organisational levels have a key input into the actual strategies pursued by the organisation. This models emphasis on learning underlies more recent theories which focus on the value of knowledge as a core organisational competence for gaining competitive advantage. An emergent approach leads to more creative and responsive strategy making which is well suited to the hyper-competitive and unpredictable environments of today. Interestingly, Hamel and Prahalad pointed out that the most successful firms in the world such as Microsoft and Apple Macintosh do not tie themselves down to mission, goals and objectives or the predetermined plan. In contrast with the prescriptive approach which focuses on creating a fit between established strengths and emerging opportunities, the emergent approach challenges the status quo by intentionally creating a misfit between these factors. Hence, it is more suited to instigating positive, transformational organisational change such as diversification or restructuring. It also has the added benefit of helping to reduce resistance to change as it allows time to build employee support while the strategy is taking shape. On a negative note, when formulation and implementation occur simultaneously there is a risk that strategy development becomes too slow and jumbled a process. This means that valuable opportunities may be missed along the way. Also, conflicting objectives from different groups can hinder strategy development, particularly when there are power shifts taking place during a major strategic change such as a merger. Without strict analysis and identifiable targets, objectives can lack clarity and there may be no real basis for evaluating performance. Indeed, it was pointed out by Brews and Hunt that an over-reliance on emergent strategy formation could result in underperformance. Conclusion Within the framework of an environment which is by and large unpredictable, many organisations are forced to become more flexible and adaptive to change. This supports the adoption of an emergent approach to strategy development which invokes a more intelligent capacity to respond to new opportunities. Nonetheless, such a strategy can preclude control over actions and may risk a lack of direction. A greater use of strategic planning tools for internal and external analysis would certainly facilitate improved organisational learning and enhance strategic thinking even while following an emergent approach. This recognition that the prescriptive and emergent processes, rather than being mutually exclusive, can be complementary approaches that reinforce each other is being highlighted in more recent theories such as the Logical Incrementalism approach proposed by Quinn. All in all, most viable strategies in todays business world should have customised elements of prescriptive and emergent characteristics in order to manage the complexities of their business and still triumph over changing circumstances.

The Greatest Lessons In Live (Values Essay) -- essays research papers

The Greatest Lesson in Life The Merriam Webster's dictionary has many different definitions for the meaning of the word love. It can be defined as a strong affection for another arising out of kinship or personal ties, affection based on sexual desire, or affection based on admiration, benevolence, and/or common interests. To love and be loved is cherished greatly among my family. From the day that I was born I was granted with unconditional love by my family. These people that surrounded me with this love have taught me not only to love them, but myself and hopefully a special someone in the future as well. My family is composed of people who are extremely close knit. After all this time, I have come to learn that family is one of the most important accessories in the package of life. I have been put in many different situations with my family, whether or not they are good or bad, we always seem to get through them together. I guess one could say that I look at my family as a team. As I talk about how close knit my family is, I am not just referring to my immediate family, which is composed of my mother, father and two sisters. Here, I am referring to my entire family; Grandmothers, Grandfathers, Aunts, Uncles and my many Cousins. The most significant idea that has been imbedded in my head is that no matter what may come of life, I will always have my family to turn to in the end. I value my family greatly; we count on each other and help each other out in any case. Th...

Google Inc: Swot Analysis

Google Inc. : SWOT analysis Introduction: Google was started as a research project by two Stanford PhD students named Sergey Brin and Larry page. They registered the domain name google. com in the year 1997 and in September 1998, it became a privately owned incorporate Google Inc. With its extensive research on search algorithms and use of state of the art technology, Google successfully established its brand name in internet search engines market. By the year 2004, Google came up covering over 75% of US web search market. Though Google is a dominating player in internet searching market, it has to compete with its rivals in this field where there is no long time entry barrier. Google can expand / change its business model to survive in this best search engine race. SWOT Analysis:* Strengths:* †¢ Google – Already number one search engine has established a brand name, in which its users trust. It’s dependable, reliable and fast. †¢ Google needs very little end user marketing as the name itself is getting word by mouth publicity. Google has a simple interface and it gives comprehensive results without confusing its users. †¢ Google has low operation cost as it uses low cost UNIX web servers for indexing millions of web pages across internet. †¢ Google has hired PhDs who are continuously working hard in order to enhance search algorithms and make searching faster, efficient and relevant. †¢ By 2003, Google has already powered over 75% of the 300 million searches cond ucted daily in the U. S. and 300 million plus outside the U. S. Google provides an interface to 88 languages to make it comfortable to search for its users in different countries. †¢ Google uses state of the art search technology to index pages regularly in order to give most updated results to its users. †¢ Google also weights the votes and ranks web pages with its PageRank technology to give its user access to most important pages first. †¢ Google is not biased towards advertisers. It clearly separates relevant advertisements and actual results by giving â€Å"Sponsored Links† tag to sponsored results when user searches to get information with some keyword. Moreover, it also ranks sponsored links to keep most relevant sponsored links on the top. †¢ Google offers localized search called â€Å"search by location† where users can get results showing vendors, products and services nearby their areas. †¢ Google also has a range of innovative additional services like Images, Groups, Directory, and News. Google didn’t complicate its website by making itself a portal; rather it kept tabs for these services on its homepage so users can easily navigate and that also keeps the website as simple as it was earlier. Google has also come up with solutions for wireless handheld devices, personalized toolbars, catalogues which are added essence strengths. †¢ Google quickly routes the user to the webpage and doesn’t linger for ad revenue. *Weaknesses:* †¢ Many spammers manipulate Google’s ranking technology by creating dummy sites with thousands of links to pages that they wanted Google to rank highly. â₠¬ ¢ Google’s link based ranking did not employ actual traffic analysis. Google’s Cost Per Click advertising charging and ranking policy is confusing and makes it difficult for marketers to predict where their ads would be positioned and how much they would cost. †¢ Google’s contextual advertising was perceived by marketers to be less effective in generating sales because visitors to web pages showing editorial content were less likely than searchers to be ready to buy. †¢ Contextual search algorithms are not 100% perfect and many times make mistakes. Google’s localized search algorithms too sometimes result in errors due to automated indexing. †¢ Google’s business model is complex, depending upon both google. com and mass market portals for its revenue. †¢ Although Google is a dominating player among search engine websites, only 50% to 65% of web search queries are answered accurately by it. †¢ Google doesn’t have â €Å"sticky† like Yahoo! And MSN have which can attract users. †¢ Google doesn’t have highly personalized search by which it could charge users with switching cost if they decide to leave Google’s services.

Earn a Doctorate Degree Online

Earning a doctorate degree online can improve your earning potential and qualify you for a variety of prestigious career options, all while learning from the comfort of your own home. As the highest degree attainable in the United States, a doctorate degree can prepare you to work in leadership positions, university-level professorships, or other highly skilled professions. But, how do you choose a doctorate degree online program? How much work does an online Ph.D. require? And, what payment options are available for online doctorate students? Read on. Who Should Earn a Doctorate Degree Online? Earning a doctorate degree online requires a significant commitment of time and money. The best students are those who are able to set aside study time each day and balance their studies with family and work responsibilities. Because most online doctorate degree programs are reading and writing focused, doctorate students should be highly literate. They should have advanced research skills, be articulate, and have the ability to comprehend complex texts. Additionally, students should be self-motivated and able to work independently. Keep in mind that earning a doctorate degree online may not automatically improve your salary. Most jobs requiring a doctorate degree offer a decent salary and a certain amount of prestige. However, many academic jobs such as professorships may pay less than jobs in the non-academic sector. When contemplating earning a doctorate degree online, research your future employment options to determine whether a new degree in your field will be worth it. Online Doctorate Degree Program Accreditation Many diploma mill schools offer the promise of â€Å"quick and easy† online doctorate degrees. Don’t fall for their tricks. Earning a doctorate degree online from an unaccredited school will be worthless. Many former diploma mill â€Å"students† have lost their jobs and their reputations by listing a diploma mill school on their resumes. Because the doctorate is a culminating degree, proper accreditation is especially important. When selecting an online doctorate degree program, your best bet is to choose a school accredited by one of the six regional accreditation organizations. These are the same organizations that accredit reputable brick-and-motor schools. If your school is accredited by one of the regional organizations, your degree should be accepted by most employers and your credits should be transferable to most other schools. What Else to Look for in an Online Doctorate Degree In addition to selecting an accredited program, study potential online doctorate programs to determine which suit your needs. How are classes held? Are there multimedia components? Must the degree be completed in a certain amount of time? Will you be assigned a mentor to help you through the difficult years ahead? Create a list of questions and interview a representative from each online doctorate program. In addition to completing courses, doctorate programs generally require students to pass in-depth subject-matter exams, write a dissertation, and defend their dissertation in a meeting with university faculty. Before enrolling in an online doctorate program, ask for a list detailing the college’s specific graduation requirements. Types of Doctorate Degrees Online Not all doctorate degrees can be earned through the internet. Some training, such as that received by medical doctors, must be highly supervised. However, many other doctorate degrees can be earned virtually. Some of the most popular online doctoral degrees include Doctor of Education (EdD), Doctor of Public Health (DPH), Doctor of Psychology (Ph.D.), and Doctor of Business Administration (DBA). Online Doctorate Degree Residency Requirements Most online doctorate degree programs require students to spend time taking classes or attending lectures on an actual campus. Some online programs require only a limited residency, asking students to attend a few weekend lectures or meetings. Other programs, however, may require a year or more of on-campus residency. Residency requirements are generally non-negotiable, so be sure that the online Ph.D. program you select has requirements that fit your schedule. Paying for a Doctorate Degree Online Earning a doctorate degree online can cost tens of thousands. While many brick-and-mortar schools offer doctorate students paid teaching fellowships, online students are not afforded this luxury. If your new doctorate degree will help you be a better employee, you may ask your employer to pay for a portion of your doctorate degree costs. Many graduate students qualify to take out government-subsidized student loans with lower-than-average interest rates. Additionally, private student loans are available from banks and lending institutions. Your online school’s financial aid advisor can help you determine which options are right for you. Don’t Give Up Earning a doctorate degree online can be a challenge. But, for the right student, the rewards are definitely worth it.