Strategies to Develop Strategy

Critically discuss the approaches to developing strategy. Is there evidence in today's business world to suggest there is one best way?

The purpose of this essay is to critically discuss and evaluate the different approaches to develop strategy outlining their main characteristics. Strategy not only defines the direction of an organization to be taken, the term is vast and there is more than one definition or view coming from different directions. Today's business environment is very turbulent and chaotic therefore increasing the scope of the subject. As stated below the different forces that faces an organization such as technological developments, market instability and chaos, government policies and so on. All have contributed for this change in the environment, consequently affecting how business strategy is implemented and formulated.

Not all organizations face similar environments and they differ in their form and complexity ,therefore different ways of thinking about strategy development and different processes for managing strategy may make sense in different circumstances . Studies have shown that the main problem of the development of strategy is to cope with uncertainty, therefore it is handy consider this issue in terms of organizations facing different contexts; in simple and stable the environment is almost straight forward to understand as it does not undergo significant changes. In dynamic or chaotic environments conditions managers should consider and forecast the environment of the future not just of the past. The degree of uncertainty increases. In complex/chaotic situation face an environment difficult to comprehend, they may. Of course, face dynamic conditions too and therefore a combination of complexity and uncertainty. Gerry Johnson, Kevanscholes, Richard Whittington. (Page 590, 591).

Organizations need to analyze the six basic factors in the environment that influence corporate strategy such as: General evaluation of the environment; turbulent and chaotic, Pest (political economic, social, and technological), the industry (Porte's Five Forces) and