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Business Organisation and Policy
Pages 10 (2510 words)
This paper sets out to determine the importance of environmental factors on business strategy, fundamentally the differences between 3 forms of strategy, namely the planned corporate strategy, business planning and policy making and scenario planning and the implementation of policy development in regards to business planning within the strategies.
Strategic management has commonly been portrayed as revolving around the discrete phases of formulation, implementation, and control, carried out in almost cascading steps (Mintzberg, Ahlstrand and Lampel, 2008). These are three steps of the planned corporate approach to strategy involves a formal process to strategy formation: problem awareness, the development of solutions and the selection of a solution (Forbes and Fletcher, 2006). In the same context, Marlo (2006) denoted a planned corporate strategy comprising of a declaration of specific and expressed intentions, supported with formal controls.
Jauch and Osborn (2006) commented with his realization that towards a successful outcome of the strategy, a firm structure is necessary for an organization. Hence all decisions made from the top management can be carried out throughout the organization, with the "people" convinced and act in ways that are expected to create desirable results ad hoc to the plan. Therefore, strategy-making authority rests with top management, committing a centralized power in an organization. In view of the forward looking nature of a planned corporate strategy, Mazzolini (2008) observed that goals or objective fulfillments are the critical outcome of the strategy.
In a foresight, Snow and Hambrick (2007) notes that the planned co ...
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