Table of Contents
Strategic Management Subject Guide
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Articles

Better strategic planning: Managing change and planning for the future require both vision and strategy Some full text available
Purpose– This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

Design/methodology/approach– This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings– It would be very difficult to find a company CEO or a department manager who did not acknowledge the need for strategic planning when making major decisions about company policies or when contemplating large‐scale directional change. However, the problem with strategic planning is that it isn't always very effective. The reasons for this range from the fact that sometimes it is not strategic enough, or robust enough, to the use of strategies developed to meet the needs of very different industries.

Practical implications– The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value– The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.
note: Journal article
Comprehensive Approach to Strategic Management: : Leading across the Strategic Management Domain Some full text available
No single subject has so dominated the attention of managers, consultants and management theorists as the subject of corporate strategy. For the top managers of big companies, this is perhaps understandable. Served by hordes of underlings, their huge desks uncluttered by the daily minutiae of business, they often consider setting strategy as their most valuable contribution. And it is also understandable that there is a great deal of debate about which strategies work best; business is, after all, complicated and uncertain. More puzzling is the fact that the consultants and theorists jostling to advise businesses cannot even agree on the most basic of all questions: what, precisely, is ... strategy?
note: Journal article
Corporate strategic marketing: a new task for top management Some full text available
Purpose– Within customer‐oriented business organizations, corporate management can be understood as corporate strategic marketing (CSM), or marketing the corporation in various markets. The article identifies the main competitive markets in which a corporation has to market itself.

Design/methodology/approach– Deriving from business experience, the article presents a new conceptualization of corporate strategic marketing.

Findings– Corporate strategic marketing consists of interrelated practices of marketing the corporation in various markets. The markets have links to different traditional realms of corporate management, such as strategy, finance, corporate communications, and marketing. However, the practices of marketing in the various corporate markets are highly interrelated.
Research limitations/implications– This is a conceptual article geared to open up new empirical research possibilities in the marketing‐oriented corporate management.

Practical implications– Top managers developing CSM competences of marketing the corporation in various markets and identifying new markets can derive competitive advantage.
Originality/value– The conceptualization of corporate strategic marketing presented is new.
note: Journal article
Developing a strategic profile: the pre‐planning phase of strategic management Some full text available
Purpose– The purpose of this article is to assist strategic planners and managers in developing and utilizing a strategic profile of the firm in order to conduct a SWOT analysis and therein apply its results appropriately.

Design/methodology/approach– How are the objectives achieved? This objective is achieved by developing a seven‐step procedure, with templates that assist planners and managers in creating a strategic profile of the firm and then utilizing that profile as a filtering mechanism for a SWOT analysis. The article covers the topics of competitive approach, competitive strategy, organizational structure, leadership, and organizational culture.

Findings– The profile may not only be employed as a method for centering a firm's strategic planning and implementation, it may also be used for creating a competitive profile of the firm's competitors.

Practical implications– The practical implications of the article indicate the need to attach a pre‐planning stage to the typical strategic management process of a firm. This action will lead to the creation of a preliminary strategic profile of the firm. This profile is used to produce a more accurate SWOT analysis with a greater likelihood of successful strategy implementation.
Originality/value– The value of this article is that it introduces a pre‐planning stage to the traditional strategic management process. This stage creates a strategic profile of the firm which managers and strategic planners can use for two purposes: producing a more accurate SWOT analysis with a greater likelihood of successful strategy implementation; and creating a strategic profile of their competitors.
note: Journal article
Integrating strategic management and budgeting Some full text available
Purpose– This article examines the relationship between budgeting and strategic management, especially in terms of strategic planning. Strategic management presents managers with a process for making decisions and guiding a firm's actions, while budgeting provides information on funding and accountability. The article takes the position that the two processes should be tightly integrated as they serve complimentary but distinct purposes.

Design/methodology/approach– The article develops a model of how strategic management and budgeting should be intertwined. The model describes a cascading process by which a firm's general strategic direction and financial condition drive tactical decisions and resources allocations at lower organizational levels.

Findings– The article discusses ideas on how the budgeting and strategic management might be administered so as to have the best impact on firm performance. A key observation in the article is that overall firm performance is likely to be improved when the two types of planning are use properly. The article argues that disconnections between the two will result in budgets that hinder implementation of the firm's strategies or strategies which cannot be supported by the firm's finances.

Originality/value– The article provides several ideas for managers on how to achieve better integration between strategic planning and budgeting. They include creating a cascading planning process, in which strategic and financial decisions progressive move down through an organization's hierarchy, establishing standing strategic review committees, using rolling budgets, and the proper application of available technological tools.
note: Journal article
Strategic innovation: a new perspective on strategic management Some full text available
Purpose– The purpose of the paper is to define the emerging concept of strategic innovation.

Design/methodology/approach– This is achieved by means of a literature review and discussion of the literature.

Findings– The concept is defined in precise and measureble terms.

Research limitations/implications– It is now possible and much necessary to conduct empirical research on strategic innovation in order to test and strengthen the definition.

Practical implications– The definition is related to empirical praxis and can be used to test or analyze the practice of management.

Originality/value– A useful and practical definition aimed to creating future research.
note: Journal article
Strategic management accounting and business strategy: a loose coupling? Some full text available
Purpose– The purpose of this paper is to investigate whether business strategy influences strategic managementaccounting (SMA) usage. Business strategy has been operationalized through strategic pattern, mission and positioning.

Design/methodology/approach– The paper is based on an internet questionnaire survey of Italian companies. Multiple regression analysis is used to test the impact of strategic variables (pattern, mission and positioning) on SMA usage. Company size is included as control variable.
Findings– Several SMA techniques appear to be used in Italian companies as they are in other countries investigated in different studies. Customer accounting, competitive position monitoring, competitor performance appraisal based on published financial statement and quality costing represent the most widely used SMA techniques in the Italian sample. From the regression analysis, both defender‐ and cost leader‐type of strategy are found to be more willing to use SMA techniques addressing cost information.

Research limitations/implications– The issue, common in contingent research, of business strategy definition and operationalization constitutes the main limitation of the paper; in an attempt to restrict its effect, it uses three strategic typologies (pattern, mission and positioning) and employs a measurement method used in previous studies. A second issue concerns the definition of SMA techniques. There is no concurred list of SMA techniques in the literature and further discussion is expected in the future.

Originality/value– First, empirical evidence is provided to a field (SMA) where empirical research is needed in order to be comparable with traditional management accounting techniques. Second, for the first time in SMA studies, a framework is employed that considers all of the three main strategic variables (pattern, mission and positioning) used in management accounting literature. As a result, the loose coupling between SMA techniques and business strategy typologies indicates (with the possible exception of cost‐related SMA techniques) that the same SMA technique can support different strategic approaches of the company.
note: Journal Article
The hidden risks in strategic account management strategy Some full text available
Purpose– To provide a critical perspective on the robustness of strategic account management (sometimes called key account management) strategies as an approach to managing relationships with large and very large customers.
 
Design/methodology/approach– The paper is based on exploratory interviews and management workshop discussions and the observation of the operation of strategic account management approaches in practice, and is illustrated with cases drawn from secondary sources.

Findings– Suggests that SAM may amount to investment in strategic weakness that enhances dependencies and limits the scope for superior supplier performance; a customer portfolio analysis of all accounts identifies where the best prospects for long‐term profit exist; many strategic account relationships are based on exaggerated estimates of customer relationship requirements and customer loyalty. We conclude that strategy analysts should be concerned with developing new business models that avoid the trap of dependence on powerful, major customers, rather than pursuing business strategies like SAM that reinforce dependencies.

Research limitations/implications– There are a number of research opportunities in examining the long‐term impact of formalizingstrategic account management systems in supplier organizations.

 Practical implications– We aim to provide managers and analysts with a different perspective on strategic accountmanagement strategy that considers the potential weaknesses and vulnerabilities created through thestrategy, to be compared to the attractions of this strategy.

Originality/value– Our goal is to add to understanding of strategic relationships between buyers and sellers. We do not believe that the downside to strategic account management strategy has received adequate recognition in existing treatments of the topic.
note: Journal Article
The relationship of strategic performance management to team strategy, company performance and organizational effectiveness Some full text available
Purpose– The purpose of this editorial is to introduce the special issue on the relationship of strategic performance management to team strategy, company performance and organizational effectiveness.

Design/methodology/approach– The paper explains each of the components in this relationship before introducing the problematic issues regarding this relationship and where the gaps are missing in the extant literature; hence the need for the special issue is justified.

Findings– The paper finds that the concluding remarks are offered to suggest that strategic performance management can take place at top management, middle management, or strategic operations levels, and the their impact on team strategy, company performance and organizational effectiveness can be regarded as a special phenomenon, termed “strategic team performance management”.

Originality/value– This editorial provides an overview of this compilation which comprises five original papers that are examples of latest developments in this research area, and each of these articles contains a brief introduction on how they contribute to filling in gaps in the literature.
note: Journal article
The strategic value of sustainable stakeholder management Some full text available
Purpose– The purpose of this paper is to explore the relationship between sustainable stakeholder management and reputational capital (of banks).

Design/methodology/approach– In‐depth interviews with top executives of global banks, corporations, hedge funds, World Bank, IMF, SEC, ECB and politicians.

Findings– A bank's overall reputation is a function of its reputation among its various stakeholders in specific categories (e.g., product quality; customer service; financial performance; handling of environmental and societal issues; intellectual capital, etc.). Building a name that matters involves maximizing all characteristics. There is a very strong consensus across our research population that sustainable stakeholder management is required. The interviewees selected four outstanding “stakeholder management banks”: Santander (Spain), Rabobank (The Netherlands), HSBC Bank (UK) and Nordea (Sweden).

Research implications/limitations– Building, sustaining and defending a solid stakeholder management reputation is a crucially important aspect of bank management, but it is an area where understanding could be developed much further. The focus of this study is on the strategic value of sustainable stakeholder management. However, superior operational effectiveness is at least as important a source of competitive advantage as sustainable stakeholder management.

Practical implications– The ability of a sustainable stakeholder management reputation to deliver proven value flows straight to the bottom line. It is senior management's responsibility to manage the bank so as to develop and maintain a solid sustainable stakeholder management reputation. The strength of a bank's name depends on how well it has fulfilled its promise to stakeholders over time.

Originality/value– Future leadership in banking will require significant commitment to sustainable stakeholder management. The “reputations to restore” motto provides the main rationale for banks to build a sustainable stakeholder management mindset. In doing so, they preserve market positions, margins, and organizational vitality.
note: Journal article

Books

Strategic Management / Rao, P. Subba Some full text available
This book covers the following chapters: Business policy, utility and application of strategic management, environmental appraisal, strategic planning, implementation of strategies, strategic evaluation, social responsibilities, and skill development.  
note: E-book
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