Strategic Management for Growth and Expansion- myassignmenthelp

Question: Discuss about theStrategic Management for Growth and Expansion. Answer: Introduction The report will discuss in detail about different concepts of the strategic management right from its initiation. Frederick Taylor is considered as an inventor or the father of scientific management. His contribution in industrial management is immense and his work is called as scientific management (Taylor, 1911). He was an US based inventor as well as engineer that implemented his work of engineering and knowledge in management as well as developed the theory known as scientific management theory. Some of the important work introduced by him was The Principles of Scientific Management (Chandler, 1962). It is also important to note here that his work can be seen as an important part in all modern age manufacturing companies and many other kinds of businesses. The work can be found in all kind of production planning as well as production based control with process based designs and control over the quality and cost based accounting system and also ergonomics (Taylor, 1911). One of the most acknowledged work of the Fredrick Taylor is scientific management theory which is entirely based on application of industrial based engineering principles to develop a structure where any kind of waste was completely ignored as well as the process and methods of the production can be rectified. At the same time, goods were properly distributed. Such kind of improvements also serve the best kind of interest of the workforce, employees and society normally (D'Aveni Gunther, 1994). The theory propounded by the Taylor can be be further divided into four principles for management. Proactively collecting, evaluating and exchanging data to laws, rules and also formulas from mathematics for finishing the work. Using a scientific level work in collecting and training of employees. Collecting the science and the worker so that the employees implementing the developed scientific work for the task. Application of the work in equal manner between the manager and the employees where the management implements scientific methods to plan and the worker is able to perform the tasks which are pursuant towards planning. The work approached by the Frederick Taylor is based on the study of management in a quantitative manner with the help of the collection as well as analysis of the work. For instance, his followers also worked as per the motion based studies to sort the overall efficiency. The crucial elements of scientific management are based on the time-based studies which are functional as well as specialized because of the supervision based standardization of various techniques and tools along with implementation of standardized work techniques with separate planning function based management by exception techniques as well as principles. There are so many instructions based cards for the workmen based task and it is allocated with huge bonus for the successful performance (D'Aveni Gunther, 1994). The usage of the different rate along with Mnemonic systems for diversifying the products and implementation is actually helped the companies in that time to formulate better strategies. The existence of routing structure with a modern time costing system etc. Taylor also mentioned such components are just the elements of the methods of management which are extensions of the four principles: - The growth or development of true science The selection of scientific based workman The scientific based education as well as development of the workman Friendly and intimate cooperation that exist between the men and the management. Strategic management concepts by Alfred D. Chandler and Igor Ansoff The concept of Igor Ansoff has been created a unique kind of strategic management school of different thoughts that is actually a synthesis of his work in the present industry. It is associated with different kind of work of many crucial predecessors and his personal insight into the important elements. These elements are also associated with the successful strategic behaviour with empirical research that helps the theories as well as prescriptions (Chandler, 1962). The Ansoff recognized four standard kinds of organizational decision that are associated with the strategy based policy, programmes and specific based operating process. The last three kinds, it was argued are specifically designed to solve the recurring issues. It is further formed which do not need an original decision all the time (H. Igor Ansoff, 1965). Ansoff also argued that within the activities of the company where there must be components of the core capacity which is based on an idea which is later taken by many renowned personalities. To settle an association that exist between the past as well as future based corporate work where Ansoff has recognized four important strategy elements which are discussed below: - Product based scope present a clear kind of concept related to the idea of what any business or products any company was accountable for ( Igor Ansoff, 1965). Growth vector is further discussed in detail as per the section mentioned by Ansoff matrix which provides a way which explores the growth that can be attempted (Mintzberg, H.,). Competitive advantage is also based on advantages with an organization based process which can be possessed that will ensure that it is finished in effective manner and also covers a concept later championed by Porter (Chandler, 1962). Synergy discussed by Ansoff is also explaining the kind of synergy and how the complete work is actually greater than the simple sum of distinct parts which needs an evaluation of how options fit with the core based capacities of the company. Alfred D. Chandler discussed about the growth of management of a large organization from the history and specific from the mid-19th century towards the end of the world war I. At the time of that period, the typical kind of entrepreneurial company provide way to bigger organization consist of so many units. A new kind of management was required since the owner based manager that could not be existing at every place at once. Moreover, a new kind of manager was required to function in the current culture with the salaried professionals. It was also advised which can be split the activities of strategic based thought process and the line management (Chandler, 1962). According to the analysis of Chandler, the effective company is the one which can now be differentiate the strategy as well as the routine work. Forming an effective strategy is now becoming the responsibility of the manager. Contemporary development by Michael Porter, Henry Mintzberg and Richard DAveni Michael Porter is best known for the strategy based theorists. He has usually been highly prolific among the rest. Porter was also accountable for writing of many work and the articles that have been accepted in the field. He has been specifically part of the creating or popularizing of number of techniques that have been used widely in the discipline (Chandler, 1962). The first book by Porter was based on the practising manager with competitive based strategy and techniques for evaluating industries as well as competitors was initially published in the year 1980. Drawing the attention heavily on industrial based economic, there was an attempt to take such basic notions and develops a richer as well as complex kind of theory which closer to the complete reality of the competition (H. Igor Ansoff, 1965). The book discussed five kind of competitive forces that decides industry based profit level with potential level entrants with buyer, supplier and competition within the sector. Every element must be exerted with the power to bring margins down. The overall attractiveness of the sector depends on these theories which greatly impact the performance as well (Chandler, 1962). Competitive based strategy should be bringing at one place with rational and readily manner with are present with new concepts to formulate a framework for analysing the competiti ve culture. Henry Mintzberg was propounded the term crafting strategy where the word strategy is developed in a deliberate manner with delicacy. For Mintzberg, the strategy is more based on many emerging along with different kind of organizational development than be manufactured by a group of strategies sitting around the table which was believed for predicting the future (Mintzberg, H.,). It was also argued by Mintzberg that the current case must be labelled as strategic programming. The instruction is based on strategy that has too long been collected in varied ivory towers and built from analysis and corporate based data. In the time of specific and completely unpredictable kind of modification, the actual usage of the strategy is questioned from time to time (H. Igor Ansoff, 1965). The recent work of Mintzberg is mostly considered the controversial with strategy is not the time based on planning however the opposite with starting point. With the rise and fall of strategic based planning is masterly and pain based deconstruction of central point of management theory. Richard D Aveni is best known for the work of Dartmouth College in connection with Hypercompetition which is completely becomes part of the conventional form self-confirming strategic standards. It is also based on the overall observation of actual world where book presents a outcomes that he current world is not at all linear anymore and does not award those who uses linear kind of approaches to develop corporate strategies (D'Aveni Gunther, 1994). In places, it is also suggested, the planner require to base the work on new approach. In assessment with the new corporate world, it is made with the number of discussed observation based on competition. Companies should also destroy the competitive advantage to get the benefits. There are number of entry based barriers with work with respect to them. A logical side can be unpredictable as well as completely irrational. Conventional planning in long run does not prepare anything in short term (Porter, 1985). Attack on competition and their weakness can be an error. Conventional approaches like SWOT analysis may not function in many hypercompetitive culture. Organizations must compete to work and win however competing make the victory very challenging. DAveni manufactures the case for current complicated culture and the requirement to transform the company in a continuous manner which is in response to the culture then provides an answer to the arguments associated with requirement for dynamic kind of theory which is also called as 7-S approach (D'Aveni Gunther, 1994). It covers many points like high level of satisfaction for stakeholders, strategic level soothsaying, placing for high speed, moving the rules for the current game along with signals based on strategic intent. The core value of DAvenis concept is his based-on outcome that organization needs to be aimed on disruption of the market. He advises that there are three kind of factors that make sure a company to provide a sustainable disruption in the current market. It is also important to cover current vision which is based on disruption and have capacities for disruption for the company and it cover product tactics utilised to provide high amount of disruptions (D'Aveni Gunther, 1994). There are huge number of same cases that exist between the work of Ansoff and DAveni. The suggestion that the culture consist of some level of complicated and rate of transformation. They proposed a contingent level of theory based approach where the company should be designed to answer to current and futu re work. It was also believed that the environment of 1990s starts with a new time which very turbulent with changing culture (D'Aveni Gunther, 1994). Conclusion In initial time of growth, the concepts in strategic management revolve around many microeconomics and the overall theory is based on company which addresses the question based on why a company exist and what can be decided with the scale and overall scope. There are number of theories which also revolve around the basic kind of theme. The starting point outcome was based on many neoclassical theories based on perfect competition that revolves around the company as a part of many inputs to manufacture desired solutions (Porter, 1985). Companies also aim on accomplishing the least among the cost based combination of inputs with production procedure. It further equates with the marginal level cost to marginal based revenues to decide the level of output that increases the level of profit. Reference Chandler, A. D. (1962). Strategy and structure: chapters in the history of the industrial enterprise. Cambridge: M.I.T. Press. D'Aveni, R. A., Gunther, R. E. (1994). Hypercompetition: Managing the dynamics of strategic maneuvering. New York: The Free Press. Igor Ansoff (1965). Corporate Strategy. An Analytic Approach to Business Policy for Growth and Expansion New York: McGraw-Hill. Mintzberg, H., The fall and rise of strategic planning. Harvard Business Review, (1994, January-February), 107-114. Porter, M. E. (1985) The Competitive Advantage: Creating and Sustaining Superior Performance. NY: Free Press. Taylor F.W. (1911), The Principles of Scientific Management, New York, NY, USA and London, UK: Harper Brothers