Why strategic management is bankrupt

ver the past 35 years. North American management thinking has become dominated by the strategic management paradigm, or model, of the management process. The structure of this model, outlined here, is familiar to all who work in the management field: 1. The environmental scan. An analysis of what the business does, a prediction of the environment's direction and risks, and the identification of corporate strengths and weaknesses. 2. The setting of objectives. A generalized model of how the business should compete in the environment and a summary of performance baselines and targets. 3. The development of options. The identification and analysis of alternative policies and an evaluation of consequences and the probability that they will occur. 4. The strategic decision. The selection of operating policies consistent with resources and purpose. 5. Organization. The development of action plans and timetables that take into account competitive responses. 6. The strategic review. A periodic review of the strategy. The strategic management process, illustrated here, is a sequential step-by-step affair, based heavily upon an objective, rational, systematic assessment of the business and its environment. The emphasis is on scanning, selection, and decision making; implementation primarily involves developing action plans and timetables. The use of the word strategy to describe the core tasks of management is a relatively new one. Although the notion of strategy was developed in the military field