May 1, 2024
Updated May 10, 2025
21 minute read
Strategic management is the ongoing planning, monitoring, analysis, and assessment of all necessities an organization needs to meet its goals and objectives. In essence, it's about making sure a company's capabilities match the market's demands so it can maintain a competitive edge over time. This involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies, and ensuring that management rolls out the strategies across the organization. The exciting aspects of working in strategic management often involve the thrill of navigating complex business challenges, the satisfaction of seeing long-term plans come to fruition, and the opportunity to significantly impact an organization's success and direction. For those new to the concept, think of strategic management as the "game plan" a company uses to win in the marketplace.
The field of strategic management is dynamic and offers intellectually stimulating work. Professionals in this area are often at the forefront of decision-making, shaping the future of their organizations. They engage in deep analysis, creative problem-solving, and persuasive communication to align diverse teams towards common goals. The ability to see the "big picture" and connect various an organization's functions is a key and rewarding part of the role.
Introduction to Strategic Management
Strategic management is a critical discipline for any organization aiming to achieve long-term success. It provides a framework for making decisions and taking actions that will shape the future of the enterprise. This section will delve into the fundamental aspects of strategic management, including its definition, historical development, primary goals, and its relationship with broader management principles.
Defining the Landscape: What is Strategic Management?
empkgm|
Find a path to becoming a Strategic Management. Learn more at:
OpenCourser.com/topic/empkgm/strategic
Reading list
We've selected 32 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Strategic Management.
Widely used textbook in strategic management programs and provides a comprehensive overview of the core concepts, frameworks, and tools in the field. It is suitable for gaining a broad understanding and serves as a solid foundation for further study. The book integrates theory, empirical research, and practical applications with current examples.
Provides a clear and accessible summary of Michael Porter's foundational frameworks on competition and strategy, including the Five Forces and the value chain. Written with Porter's cooperation, it clarifies common misconceptions and offers practical examples. It's an excellent resource for grasping core strategic concepts.
Another cornerstone text by Michael Porter, this book focuses on how firms can create and sustain a competitive advantage. It delves into the value chain and different generic strategies. It's a crucial follow-up to 'Competitive Strategy'.
A widely used textbook, this book provides a thorough grounding in strategic management concepts supported by a rich collection of cases. It's excellent for both understanding the theory and applying it to real-world situations. Often used in undergraduate and graduate programs.
This text offers a rigorous approach to strategic analysis, focusing on identifying and exploiting sources of superior business performance. It's designed for both students and professionals, combining theoretical depth with real-world examples and case studies. The latest editions incorporate contemporary issues such as corporate social responsibility and ESG innovation.
Written by a former CEO of Procter & Gamble and a strategic advisor, this book offers a practical guide to crafting and executing strategy. It focuses on the importance of making clear choices about where to play and how to win, providing a actionable framework.
Provides a comprehensive overview of strategic management, covering topics such as strategic planning, competitive analysis, and implementation. It good choice for students who want to learn about the basics of strategic management.
Is essential for understanding the fundamental difference between effective and ineffective strategy. Rumelt provides a clear framework for strategic thinking and highlights common pitfalls. It's a valuable read for anyone looking to improve their strategic decision-making skills.
Introduces the concept of blue ocean strategy, which way to create new market space and make competition irrelevant. It good choice for students who want to learn more about innovation and growth.
Comprehensive overview of strategic management, written in Chinese. It covers topics such as strategic planning, competitive analysis, and implementation. It good choice for students who want to learn about the basics of strategic management in their native language.
Offers a concise yet comprehensive introduction to strategic management, covering traditional models, the resource-based view, and stakeholder theory. It uses engaging examples to illustrate principles and is suitable for gaining a foundational understanding.
This collection compiles essential articles on strategy from the Harvard Business Review, including seminal pieces by Michael Porter. It offers a range of perspectives on key strategic topics and is valuable for both foundational understanding and exploring diverse viewpoints.
Provides a comprehensive overview of the various schools of thought in strategic management, presenting different perspectives on how strategy is formed. It's valuable for gaining a broad understanding of the evolution and diversity of strategic thinking.
This influential book introduces the concept of creating new market spaces free from competition, known as 'blue oceans'. It provides a systematic approach to innovation and market creation, offering tools and frameworks for identifying and pursuing new opportunities. This is highly relevant for understanding contemporary strategic thinking beyond traditional competition.
A foundational book on disruptive innovation, this classic explores how successful companies can be disrupted by seemingly inferior technologies. It's crucial for understanding the impact of technological change on established businesses and is highly relevant for technology strategy.
Focuses on the critical importance of execution in realizing strategic goals. It argues that many strategies fail due to poor implementation and provides a framework for building an execution-ready organization. Essential for understanding the practical challenges of strategy.
This highly visual and practical guide introduces the Business Model Canvas, a tool for designing, understanding, and innovating business models. It's very relevant for contemporary strategic thinking, particularly in the context of entrepreneurship and innovation.
Introduces the Balanced Scorecard as a framework for translating strategy into action and aligning organizational activities. It's highly relevant for understanding strategy implementation and performance management.
Examines what distinguishes companies that achieve sustained greatness from their peers. It identifies key principles and practices, such as Level 5 leadership and a culture of discipline, that are crucial for long-term strategic success. It provides valuable insights into the implementation of strategy.
Written by the former CEO of Intel, this book provides insights into navigating strategic inflection points – moments of significant change that can make or break a company. It's valuable for understanding strategic leadership and adapting to dynamic environments.
Authored by product managers from major tech companies, this book provides an accessible overview of key technology concepts and their strategic implications for business. It's particularly useful for understanding technology strategy and the digital landscape.
Provides a comprehensive overview of strategic management in the hospitality and tourism industry. It covers topics such as destination management, marketing, and operations.
Provides a comprehensive overview of strategic management in the digital age. It covers topics such as digital transformation, e-commerce, and social media.
For more information about how these books relate to this course, visit:
OpenCourser.com/topic/empkgm/strategic
Save
