Paroutis, Sotirios (2012) Strategy process. In: McGee, J. and Sammut-Bonnici, T., (eds.) The Blackwell Encyclopedia of Management: Strategic Management. The Blackwell Encyclopedia of Management, Vol.12 (3rd Edition). London, UK: Wiley-Blackwell Publishing Ltd.. ISBN 978-1-4051-1828-6 (In Press)

Abstract

The study of the processes of strategic management (often summarized as strategy process analysis) is descriptive rather than prescriptive – it contains no suggestion that, because such processes exist, this is how they should be managed. Conversely, however, the prolonged survival of some types of strategic process implies a sustainable value and a reality of strategic development that has to be taken into account in any strategy‐making endeavor. Some of the key facets of strategy processes are described below. It is important to distinguish between intended strategy and realized strategy. This is particularly important in considering the fit between the external environment and strategy – it is likely that the fit with realized strategy is the more powerful. Strategy also evolves incrementally . This means that change takes place through a process of continual, relatively small adjustments to existing strategy. This is most likely to be the case where there is an overall strategic direction and existing momentum that is persistent over time. Formal planning processes may be important as an aid to analyzing strategic positions and strategic options but are not necessarily the processes by which strategy is actually developed.

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