The management team is tasked with formulating ways through which the organisation can succeed with the use of available resources to beat the rest in the industry and meet set goals. Strategic management is essential and is guided by structured perspective ideas known as schools of thought as conceptualised by Henry Mintzberg. This paper aims as critically assessing and analysing the ten prescriptive schools of thought in strategic management as proposed by Henry Mintzberg and determine the merits and demerits of each so as to appreciate which is best for what situation.
According to Kim et al. (2005:117), this school of thought focuses on instrumentation in which strategic management is based on using implements and equipments that are aimed at evaluating the company’s environmental factors both from within and without. It provides for doing an analysis into the organisation using the tools that are at its dispensation. According to this perspective, an organisation is expected to construct a clear, strong and relevant build-up through using analysis such as SWOT. This enables the firm to evaluate and determine potency, flaws, risks and chances that it is exposed to thereby making it plan in consideration to these factors. This makes strategists become aware of the state of the company both internally and externally within the environment such that they can be matched with the available resources to achieve the best results (Bilton, 2010:231). For instance, a multi-national organisation like Subway which deals with fast foods need to design its strategy in such a way that they know what opportunities they are exposed to in the market, what can cause them hazards and what their weaknesses and strengths are in order to best achieve their objectives (Kim, 2005:119).
This perspective is very important because of the weight it gives not only to the factors interior to the organisation but the external too. Stiff competition is affected by both the internal ...Show more