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Schools of Thought in Strategic Management

Schools of Thought in Strategic Management

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Faith
Different schools of thought in strategic management exist. They include:

- The design school; sees strategic management as a process of attaining a fit between the
internal capabilities and external possibilities of an organization.

- The planning school; extols the virtues of formal strategic planning and arms itself with
SWOT analyses and checklists.

- The positioning school; heavily influenced by the ideas of Michael Porter, which stresses
that strategy depends on the positioning of the firm in the market and within its industry.

- The entrepreneurial school; which emphasizes the central role played by the leaders.
- The cognitive school; looks inwards into the minds of strategists.
- The learning school; sees strategy as an emergent process- strategies emerge as people
come to learn about a situation as well as their organizations’ capability of dealing with
it.

- The power school; views strategy emerging out of power games within the organization
and outside it.
- The cultural school; views strategy formation as a process rooted in the social force of
culture.
- The environmental school; believes that a firm’s strategy depends on events in the
environment and the company’s reaction to them
- The configuration; describes the relative stability of strategy, interrupted by occasional
and dramatic leaps to new ones.
Titany answered the question on October 19, 2021 at 07:29

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