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The purpose of articulating the strategy is to translate the strategy into a form where managers and stakeholders agree consensually on what needs to be achieved [4] [8]. The strategy articulation will describe the strategic outcomes to be achieved, preferably expressed in the form of quantitative or qualitative goals. [9]
Although it helps focus managers' attention on strategic issues and the management of the implementation of strategy, it is important to remember that the balanced scorecard itself has no role in the formation of strategy. [7] In fact, balanced scorecards can co-exist with strategic planning systems and other tools. [8]
While the planning process produces outputs, strategy implementation or execution of the strategic plan produces outcomes. These outcomes will invariably differ from the strategic goals. How close they are to the strategic goals and vision will determine the success or failure of the strategic plan. Unintended outcomes might also be an issue.
Gupta’s research has focused on three areas: strategy, globalization, and entrepreneurship. He is the author of several books as well as over 80 papers. Gupta co-authored a paper regarding knowledge flows within multinational corporations, and presented the results of an empirical study on the factors that foster or constrain the sharing of ...
His 1997 paper (with Gary Pisano and Amy Shuen) "Dynamic Capabilities and Strategic Management" was the most cited paper in economics and business for the period from 1995 to 2005. [103] In 2000, Gary Hamel discussed strategic decay, the notion that the value of every strategy, no matter how brilliant, decays over time. [70]
Although strategic control is a general management topic rather than a prescriptive tool, its reliance on feedback on organisational performance has resulted in a long association with performance management tools such as the balanced scorecard and its derivatives such as the Performance Prism, and with related strategy implementation / execution frameworks such as the ACME framework, [15] the ...
Strategic thinking is a mental or thinking process applied by individuals and within organizations in the context of achieving a goal or set of goals.. When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization.
Good strategic leadership practices, with the right balance of the analytic dimension and the human dimension and the discipline and commitment to see the process through during strategy formulation and implementation can be a strong driver to take the “we/they” line much deeper into the organization.