Topic > Strategic Management - 1219

Summary In the management context, strategic management includes the identification combined with the definition of strategies. Typically, managers use these strategies to aim for high performance levels and an admirable competitive advantage for companies. In addition to that, it includes the decisions and actions taken by managers and which determine the outcome of the organization's performance. In this regard, strategic management derives greater profitability if well planned and executed. Incidentally, a science is any skill that manifests detailed use of facts for a particular purpose. Therefore, an art is clearly characterized as a fundamental skill for any human task. Not only is strategic management a behavioral science, but it is also an art, since its application in relative situations involves these two perspectives (Bingham and Eisenhardt 1437-1467). IntroductionUsually (Bingham and Eisenhardt 1437-1467) argues that the main function of Strategic management is to fully integrate the different functional components of an organization, as well as to ensure that these functional aspects are in agreement. Fundamentally, this involves applying established scientific principles in managing and executing activities to achieve desired objectives. Literature Review Strategic Management as a Science In general, a science is a taxonomic collection of knowledge about a particular field of study, with universal characteristics that define notable development. It simply establishes the link of cause with associated effects between two or more factors and emphasizes the logic of the relationship. These principles arise from scientific methods such as observation and verification by testing. Specifically, a n...... half of the paper......8): p125-136. Print.Hodgkinson, Gerrard and Mark, Healey. Psychological foundations of dynamic capabilities: Reflection and reflection in strategic management. . Strategic Management Journal. John Wiley & Sons Ltd. 32. 13 (2011): 1500-1516. Leaptrott, John and Michael, McDonald. Evaluating managerial decisions using dual systems reasoning theory: Future challenges for management researchers. Journal of the Academy of Strategic Management. 2008. Print.Pugh, Jonathan and Jay, Bourgeois. Make strategy. Strategy Management Journal. 4.2 (2011):172-179. Print.Maranville, Steven. The art of strategic management: A case-based exercise. Management training journal. 35.6 (2011): 782-807. Print.Zhang, Yan and Nandini, Rajagopalan. Once an outsider, always an outsider? CEO origin, strategic change, and firm performance. Strategic Management Journal. 2009. Print.