BUSINESS STRATEGY: AN OVERVIEW OF THE LAST CENTURY
Autor (i): Gabriela Nicoleta Andrișan1 Andra Modreanu
JEL: M1, M19
Cuvinte cheie: strategy, market strategy, strategic thinking, business, value creation
Abstract:
When reviewing the available strategy literature, it becomes clear that strategies are constantly evolving to reflect the contexts in which they are used. This varies significantly depending on the point in time at which a strategy is to be implemented. The ultimate goal, prior to developing a strategy, is to accomplish the objective established at the outset. Thus, strategies provide a framework for businesses to grow in such a way that they can more effectively accomplish their end goal, which has historically been profit. Nowadays, businesses have objectives beyond profit maximization; as a result, the use of multiple strategies within the same organization is becoming more prevalent, and having a strategic mindset and vision in place can assist in connecting them in order to accomplish the organization's overall goal. The article develops a conceptual framework for analysing how strategies have been perceived over the last several decades. A synthesis of the most prevalent features associated with them was derived as a result of the existing literature review, leaving room for further analysis in future research.
When reviewing the available strategy literature, it becomes clear that strategies are constantly evolving to reflect the contexts in which they are used. This varies significantly depending on the point in time at which a strategy is to be implemented. The ultimate goal, prior to developing a strategy, is to accomplish the objective established at the outset. Thus, strategies provide a framework for businesses to grow in such a way that they can more effectively accomplish their end goal, which has historically been profit. Nowadays, businesses have objectives beyond profit maximization; as a result, the use of multiple strategies within the same organization is becoming more prevalent, and having a strategic mindset and vision in place can assist in connecting them in order to accomplish the organization's overall goal. The article develops a conceptual framework for analysing how strategies have been perceived over the last several decades. A synthesis of the most prevalent features associated with them was derived as a result of the existing literature review, leaving room for further analysis in future research.
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