The Formation of Strategy (Published)
The formation of strategy has been described to stem from detailed rational-planning, the theory of planned strategy suggest that strategy always originates from formal plans and specific intentions, designed and articulated by the firm’s central leadership, supported by official controls in order to ensure a predictable or a controllable business environment. This paper review the submissions of leading critics who have categorised strategy into three (3), intended, emergent and realised strategies. Intended strategy is created at top management level, emergent strategy points to the decisions that emanate from the intricate processes in the firm and realised strategy is the actual strategy which is implemented, and only partly associated with the intended strategy from top management. Thus, as a result of global competition, organisations are forced to make dynamic decisions in order to strategically realign themselves within the business environment. The break-through of IKEA and WAL-MART were discoursed. These two organisations have become sensations around the world, however the intended strategy was not the major reason for their huge success. Arguments presented suggest that strategy is developed through adaptation, as well as adjustment to varied conditions. Therefore, the paper concluded that: since strategy is a process which involves continuous adaptation and adjustment to the changing environment, then it is unrealistic for it to be detailed and follow a rational process.
Keywords: Emergent Strategy, Global Competition, Intended Strategy, Rational-Planning, Realised Strategy, Strategically Realign, Strategy
Strategic Management of Government Public Policy: Key for Economic Stability (Published)
Strategic Management basically deals with discovery and description of the strategies that leaders/managers can take so as to realize improved competitive advantage and performance for their organization. Firm is said to have competitive advantage if its profitability is higher than the average profitability for all competing firms in the same line of business. The guiding philosophy in any strategic management procedure, either public or private sector, is all about understanding what changes are desirable, how to implement and manage these changes, and how to create a blueprint for sustaining improvements that lead to better performance. Strategic management provides overall direction to the enterprise and involves specifying the organization’s objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. The objectives of this paper are to: Examine the degree to which government public policies impact positively on economic stability of Nigeria. Ascertain the extent to which strategic management of government public policies enhance economic development of Nigeria. Find out how strategic management of new government public policies enhances public confidence on the Nigerian leadership. This study engaged analytical and qualitative research methods as we did not test any model. Data was gathered from multiples sources, including internal documents, policy documents, and publications of research organizations, articles published in management and social sciences journals and the internet. The current Nigeria public policy have definitely started to reflect a shift from traditional management concepts about public management and organizational design, a coherent procedure for creating and sustaining enhanced performance that reflects changes in the internal and external environment is clearly deficient. Indication does suggest that change is affecting the Nigerian economy, and this change is manifesting in all sphere of structures and processes of many private and public organizations. The paper demonstrated that strategic management of government public policy is one of the basic tool for economic stability and development of Nigeria Economy. Findings also reveal that strategic management of new government public policies enhances public self-reliance on the Nigerian leadership particularly when there is growing understanding on the part of many that policies have to be formulated through the vigorous participation of the concerned communities. A learned anointed professional would do better than unlearned but do anointed, therefore expert that are knowledgeable about strategic management should be allowed to be at the forefront of strategic management of government public policies. This will certainly enhance economic development of any Nation.
Keywords: Management, Policy, Strategic Management and Government Public policy., Strategy
FACTORS DETERMINING FIRMS’ STRATEGY OF INTERNATIONALIZATION: A CASE STUDY ON POLAND (Published)
The purpose of this paper is to examine the determinants of an internationalization strategy and its impact on success and business performance. To achieve this objective, data were collected through surveys using a structured questionnaire administered to 385 Polish small and medium-sized enterprises (SMEs) that are involved in launching and developing their products in international markets. A confirmatory factor analysis was conducted to examine the reliability and validity of the measurement model, and the structural equation modeling technique was used to test the research model. The results of the study confirm that internationalization strategies of Polish SMEs are influenced by six factors that are: managerial expertise, dynamic capabilities, risk aversion, alliance capabilities, foreign market orientation and markets knowledge
Keywords: Alliance, Business, Internationalization, Management, Performance, Risk, Strategy, Success