Business leaders have the task of developing effective business strategies and policies to enhance competitiveness in their businesses. In modernized business world, strategic management has been adopted to seek solutions to business threats/risks; the method also offers businesses chance to take advantage of prevailing business opportunities (Fred, 2008). This paper supports the augment that strategic management is a science.
In contemporary business worlds, managers or business leaders have to develop new methods and approaches to handle business processes.
Strategic management was developed by researchers and management gurus to offer an effective approach through which processes could be handled in an organization. There have been arguments over the concept “Strategic management is a science,” some management gurus are for the support of the phrase as they observe that the approach and manner of the management approach follow that of science (Porter, 1980).
Strategic management is a science literature review
Fred, 2008, is of the opinion that current changes in the world economic situations require business to develop management methods and approaches that address issues facing them; according to the writer strategic management, approach handles or approaches business needs in totality where it looks at all aspects of an organization.
Businesses are faced the challenge of adopting measures to keep then in business currently and ensure continuity; policies that look into present situation and consider how the future is likely to be are the policies of strategic management.
The method of management varies with traditional methods of conducting affairs; traditional method was focused on yielding high returns for the business and cared less about the process through which the profits have been attained through. To remain competitive, it is important to have policies that are not out-dated; leaders have the role of pioneering change (Kotter & Schlesinger, 2008).
Science involves looking at past, current and future situation, then using research coming up with the right method or approach to handle the issues or challenges; in science, solutions are sort after getting an in-depth understanding of the situation and ensuring that all corners have been addressed. When suing science to seek solution, the end justifies the means, this means that it is through the processes that a solution passes that determines the outcome.
In strategic management, there is much emphasis on research, management should only come up with decisions after they have researched for the solution, considered what other companies have done , and undertaking well calculated tests on the solution they are to implement. The approach taken by strategic management is similar to science, thus strategic management can be termed as a science (Goold & Campbell, 2002).
When considering issues of strategic management, business leaders appreciate that the world is going through a series of changes in technology, market trends, competitiveness, and consumer enlightens life style among others. To remain competitive, decisions made within the organization should be able to address the changed business environment, they should be strategic and ensure that when enacted they competitive edge.
When making strategic decisions under the frameworks of strategic management, an in-depth understanding of a company’s internal and external factors is necessary. The understanding is gotten after a systematic and well coordinated research has been undertaken on the issues; it is after the in-depth understanding that aimed at maximizing strengths, tapping opportunities and militating against threats.
To have an overall strategy, there should be strategic strategies in all areas that affect a business; no area should be considered better than another, however the seriousness required in different sectors should be looked into. Strategic management is involved in areas like procurement (integrated supply chain management), internal processes, strategic human resources, conflicts resolutions, strategic marketing, corporate social responsibilities issues, and customer care among others (Collis & Rukstad, 2008).
Despite the changes in the business world, when business leaders develop right strategic management approach, their organization will prosper. Strategic management approach addresses all areas of a business and ensures that a company is well constituted company with well framed structure will remain competitive.
When adopting strategic management approach, business leaders and managers need to analyze their prevailing condition and to come up with custom made strategies to assist them remaining competitive currently and in the future. As a science, strategic management opens a door through which management can use research data to come up with solutions to challenging business situations.
The research taken is not under solution but also considers what other businesses have been doing to have done concerning the issue. Just like in science, strategic management involves the use of well researched information and data to come up with decisions that to fit a certain situation. Business information is crucial for competitiveness; the source of the information should be vetted to ensure that they are quality and reliable (Camillus, 2008).
Strategic management is similar to science in that they both use research to seek solutions to challenges facing the area of interest. Strategic management looks into business processes as well as results just like science; the method of business management considers the past, present, and the future when coming up with business decisions. The approach of strategic management qualifies the statement “Strategic management is a science.”
Camillus, J.C. (2008). Strategy as a wicked problem. Harvard Business Review. 86(5), 98-106.
Collis, D. & Rukstad, M.G. (2008). Can you say what your strategy is. Havard Business Review,86(4), 82-90 .
Fred, D. (2008). Strategic Management: Concepts and Cases. New Jersey: Pearson Education.
Goold, M. & Campbell, A. (2002). Do you have a well-designed organization? Harvard Business Review. 80(3). 117-124.
Kotter, J. & Schlesinger, L.A (2008). Choosing strategies for change. Harvard Business Review, 80(30), 117-124 .
Porter, M.E. (1980). Competitive strategy, New york:The Free Press.