Description

Decription:Strategy and strategic management theory are required to manage long-term company objectives, competitive advantage, and business profitability. This course will help students understand the definition of strategy and how it links to other key decision making in business.

Background: Lynch suggests there are 2 key approaches to strategy: the prescriptive or rational approach, which focuses on Johnson and Scholes’ strategic planning process and the emergent approach where strategy is an experimental process of trial and errors and there is no clear link between formulation and execution.