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Article
Publication date: 10 August 2010

Marilyn M. Helms and Judy Nixon

The purpose of this study is to examine the use of the strategic management tool, Strengths‐Weaknesses‐Opportunities‐Threats or SWOT analysis, and to assess how the…

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Abstract

Purpose

The purpose of this study is to examine the use of the strategic management tool, Strengths‐Weaknesses‐Opportunities‐Threats or SWOT analysis, and to assess how the methodology has been used as well as changes to the methodology. The findings both for and against SWOT analysis should lead to a balanced view of the technique as well as yield ideas for needed theory building.

Design/methodology/approach

Using the ABInform Global® database, academic peer‐reviewed articles were compiled indicating SWOT as one of the article's key index and search words.

Findings

The use of SWOT analysis continues to permeate the academic peer‐reviewed literature. Research supports SWOT analysis as a tool for planning purposes. Over the past decade, SWOT research has focused on analyzing organizations for recommended strategic actions. As a methodology for strategic positioning, SWOT analysis has been extended beyond companies to countries and industries and is used in virtually every published business case positioned for business student analysis. Additional use of SWOT is as teaching tools by consultants, trainers and educators. This paper provides a summary of the research studies and suggests paths for future research.

Research limitations/implications

This paper is limited to analyzing reports found in a selection of academic peer‐reviewed business journals. However, research implications for applying SWOT analysis provides a broad spectrum of industry analysis in North America, Europe, and Asia. Additional limitations are the need to link SWOT analysis to other strategic tools and methodologies for further theory building, since past research continues to lack quantifiable findings on the success of the SWOT analysis.

Practical implications

A fresh view of new directions and implementations for SWOT analysis, as well as other strategic planning tools that can be combined with SWOT, provides guidance for practitioners and policy makers alike.

Originality/value

The article adds value to the existing literature as the first summary of SWOT research indicating its uses and limitations. Support of its usage and place in the strategic literature is validated. The SWOT methodology is pervasive, in large part, due to its simplicity. In addition, the use of SWOT as a proven developmental, results‐oriented strategic planning tool is also extended, although further research leading to theory building is warranted and recommended.

Details

Journal of Strategy and Management, vol. 3 no. 3
Type: Research Article
ISSN: 1755-425X

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Book part
Publication date: 11 July 2018

Marios Sotiriadis

This chapter’s aim is to outline and highlight the components of strategic planning and management framework, as well as the value and utility of strategic analysis and…

Abstract

Purpose

This chapter’s aim is to outline and highlight the components of strategic planning and management framework, as well as the value and utility of strategic analysis and competitor analysis.

Methodology/approach

Extensive literature review was conducted on conceptual issues and management aspects of human resources management. A practical approach has been adopted and implemented to illustrate the value of strategic analytical tools.

Findings

This chapter provides a description and an understanding of how the analyses and tools of strategic planning and management could be used to plan and implement a business venture better. It discusses the tools enhancing the analysis of the business environment in the field of tourism.

Research limitations/implications

This study is explorative in nature because the discussion is mostly based on a literature review. It takes more entrepreneurial/practical than academic approach.

Practical implications

The analyses of the business environment and of the competition in an industry are tasks of critical importance. If these analyses are adequately performed, the probability of success may increase. This chapter discusses the purpose, the process and the implementation of tools of strategic analysis and competitor analysis. Practical recommendations and steps are also provided.

Originality/value

The analytical frameworks, tools and techniques discussed in this chapter should enhance prospective entrepreneurs to adequately perform their task of analysing the tourism business environment.

Details

The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality
Type: Book
ISBN: 978-1-78743-529-2

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Article
Publication date: 19 March 2020

Fadi Alkaraan

This paper aims to examine the adoption of conventional and emergent analysis techniques in Strategic Investment Decision-Making (SIDM) practices in large UK manufacturing…

Abstract

Purpose

This paper aims to examine the adoption of conventional and emergent analysis techniques in Strategic Investment Decision-Making (SIDM) practices in large UK manufacturing companies. It aims to update the current knowledge on SIDM practices in large manufacturing companies. The research question underlying this study: Are recently developed analysis techniques (i.e. those that aim to integrate strategic and financial analyses) being used to evaluate strategic investment projects?

Design/methodology/approach

The research evidence underpinning this study was made up of primary and secondary data, quantitative and qualitative. Firstly, a survey consisting of a mailed formal standard questionnaire was conducted where each respondent is required to answer the same questions based on the same system of coded responses. Secondly, qualitative data was collected using the annual reports of selected companies. Disclosures were used as supplementary source of information using the explanatory notes and parenthetical disclosures accompanying companies’ financial reporting. Sources for these disclosures included management discussions, analyses of company strategy and risk and forward-looking reports regarding future performance and growth opportunities (such as mergers and acquisitions activities). Accordingly, companies’ disclosures were used in this study as an alternative method to semi-structured interviews to collect qualitative data. More recently, companies such as Rio Tinto have prepared strategic annual reports for 2017 against the UK Corporate Governance Code (version 2016).

Findings

The choice and use of financial analysis techniques and risk analysis techniques depend on the type of project being evaluated. Decision makers in large UK companies do not appear to use emergent analysis techniques widely. Pre-decision control mechanisms have significant influence on SIDM practices. This includes the changes of internal and external contextual factors, including organisational culture, organisational strategies, financial consideration, comprising formal approval governance mechanisms, regulatory and other compliance policies interact with companies’ internal control systems. Companies incorporate non-financial factors alongside quantitative analysis of strategic investments opportunities. Energy efficiency and carbon reduction are key imperatives of companies’ environmental management. These factors viewed by decision makers as significant factors relevant for compliance with legislation as well as maintaining companies’ legitimacy issues, sustainable business, experience with new technology and improved company image.

Research limitations/implications

High risk, ambiguity and complexity are key characteristics embedded in SIDM processes. Macroeconomic issues remain crucial factors in scanning and screening investment opportunities, as reported by this study. The early stage of SIDM processes requires modelling under macroeconomic scenarios and assumptions of both internal and external parameters. Key assumptions include: projections of economic growth; commodity prices and exchange rates, introduction of technological and productivity advancements; cost and supply parameters for major inputs. SIDM practices rooted on comprehensive knowledge and experience of the industry and markets to draw subjective judgements about the riskiness of prospective projects, but these are rarely formalized into their SIDM processes. Findings of this study, however, remain within the context of UK companies. This study has its own limitations due to its time, location, respondents and sample selection, the size and the sector of the selected companies and questions addressed. Findings of this study raise a call for future research to examine SIDM processes in different settings to explore the relative impact of various organisational control mechanisms on SIDM practices. Also, to examine the influence of contextual factors (such as national culture, political, legal and social factors) on organisational control mechanisms. SIDM practices and processes have received significant attention from researchers, yet there is a lack of evidence in the literature about how companies approach strategic decision-making regarding divestments of some of their strategic investments. This type of strategic decision-making is not less important than other types of SIDM practices.

Practical implications

SIDM practices reflect the art and science of steering and controlling organisational resources to achieve a desired strategy. To understand the factors that shape SIDM practices and align them to organisational strategy, more attention is required to the choice and design of pre-decision controls and to the important role of strategic management accounting tools over the more traditional financial analysis techniques that have formed the focus of much prior empirical research.

Social implications

Key environmental issues viewed by decision makers as significant factors relevant for compliance with legislation as well as maintaining companies’ legitimacy issues and company image.

Originality/value

Despite their perceived importance in this study, quantitative accounting controls may fail to connect with the kind of investment decision-making required to bring strategic success. Indeed, it has been widely noted that financial evaluation techniques are inadequate for assessing strategic investment proposals; they can only function as a guideline, as SIDM practices involve so many uncertainties, risks and judgements. A key insight from this study is that the achievement of integration between the firm’s strategic investment projects and the overall organizational strategy forms a critical pre-decision control on managerial behaviour at an early stage in SIDM practices. As many strategic investment decisions are one-off, non-repeatable decisions, the information needed to support their evaluation is likely to be similarly unique. Sound SIDM practices require the support of a large amount of varied information, a significant proportion of which is collected and analysed prior to potential capital investment projects being considered, such as information related to strategic goal setting, risk-adjusted hurdle rates and the design of appropriate organisational decision hierarchies.

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Article
Publication date: 1 June 1989

James L. Webster, William E. Reif and Jeffrey S. Bracker

As more line managers are given primary responsibility for planning there is an urgent need to acquaint them with the spectrum of potent tools and techniques for…

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1350

Abstract

As more line managers are given primary responsibility for planning there is an urgent need to acquaint them with the spectrum of potent tools and techniques for developing and focusing strategy. This guide evaluates 30 established planning tools in terms of potential benefits and logistical requirements.

Details

Planning Review, vol. 17 no. 6
Type: Research Article
ISSN: 0094-064X

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Article
Publication date: 1 January 2004

Teck‐Yong Eng

An important managerial task in business‐to‐business marketing is the strategic management of supplier‐customer relationships, which is concerned with a portfolio of…

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3736

Abstract

An important managerial task in business‐to‐business marketing is the strategic management of supplier‐customer relationships, which is concerned with a portfolio of relationships. A review of existing customer portfolio theories reveals that: most of the portfolio dimensions have not yet been empirically validated; the theoretical base of relevant dimensions may be conceptually inadequate in terms of strategy analysis; and the link between customer portfolio dimensions and customer performance has not yet been examined. Attempts to address these gaps in the literature by studying customer portfolios of large UK‐based banks. The main results indicate that the common industrial organization perspective may only give a short run picture of customer performance. Suggests that long run positioning value of a customer portfolio can be accounted for by resource‐based analysis and strategic approach to customer portfolio analysis. Concludes with a discussion of the results and implications.

Details

Journal of Business & Industrial Marketing, vol. 19 no. 1
Type: Research Article
ISSN: 0885-8624

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Book part
Publication date: 14 July 2015

Fadi Alkaraan

Mergers and acquisitions strategies are not risk-free, potential problems in achieving success include integration difficulties, inadequate evaluation of target, inability…

Abstract

Mergers and acquisitions strategies are not risk-free, potential problems in achieving success include integration difficulties, inadequate evaluation of target, inability to achieve synergy, and complexity. Such strategies can fail for many reasons including inadequate evaluation of targets or inadequate pre-decision control mechanisms. Mergers and acquisitions are reviewed in this chapter as strategic investment decision-making perspective. Established financial analyses remain important in appraising investment choices, despite their limiting assumptions and their recognised shortcomings in capturing strategic project dimensions. However, managers balance these economic analyses with less-structured, strategic analyses underpinned by informed judgement. The fact that empirical studies reveal a continued reliance on judgement by investment decision-makers does not mean that rational economic analysis is a futile exercise. What studies of practice do seem to suggest is that the theory and practice of strategic investment decision-making need to take into account both economically rational and intuitive decision processes. Reflecting on the research evidence, we conclude that strategic investment appraisal will be best supported by approaches that (i) couple sound economic analysis with the development of managerial judgement and (ii) take account of the broader decision-making context within which both economic and strategic analyses are used.

Details

Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-1-78560-090-6

Keywords

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Book part
Publication date: 29 August 2007

Jeremy C. Short

The resource-based view (RBV) of the firm focuses on how firm-level assets and capabilities influence firm performance. Scholars have noted the need for studies grounded…

Abstract

The resource-based view (RBV) of the firm focuses on how firm-level assets and capabilities influence firm performance. Scholars have noted the need for studies grounded in the RBV to account for the role of the strategic group level, but uncertainty remains about how to do so. Random coefficients modeling (RCM) provide an appropriate technique to integrate these two levels of analysis, but its use has been limited in strategic management research to date. I review research integrating firm and strategic group levels and provide a roadmap for future research seeking to integrate these two levels’ influences on firm performance, and use RCM to illustrate the effects of firm resources on performance under three depictions of the strategic group level culled from strategic management research. Findings suggest that interpretations about the efficacy of resources’ influence on performance vary considerably across methodological specification. Next, I use RCM to illustrate how strategic management researchers can further integrate the firm and group levels by demonstrating how variables at the group level of analysis may interact with firm-level characteristics. I conclude with suggestions for future research using RCM to integrate the strategic group into multilevel studies predicting firm performance.

Details

Research Methodology in Strategy and Management
Type: Book
ISBN: 978-0-7623-1404-1

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Book part
Publication date: 26 November 2014

David B. Zoogah and Julaine S. Rigg

To expose strategic management scholars in Africa, particularly graduate students and new faculty members, to bibliometrics, a fast-growing approach for examining the…

Abstract

Purpose

To expose strategic management scholars in Africa, particularly graduate students and new faculty members, to bibliometrics, a fast-growing approach for examining the impact of individual and collective scholarly.

Design/methodology/approach

We review the bibliographic analysis approach by discussing its origin, development, and process. We then advance to a dynamic multilevel model that can be used to examine strategic management contributions at the individual and collective levels. Bibliometric analysis is being used extensively in such fields as library science, agriculture, economics, medicine, psychology, and more recently in management areas such as entrepreneurship, strategy, and international business. In addition to its wide application, bibliometric analysis has relevance for strategic management research in Africa which is characterized by major research constrains.

Findings

Illustrations are provided with procedures for conducting bibliometric analysis. We conclude by making recommendations on what to consider in using the approach for the study of strategic management in Africa.

Research limitations/implications

We discuss the strengths and weaknesses of the approach as well as suggestions on maximizing its potential.

Practical implications

The approach is an invaluable source particularly for graduate students of strategy. They can be used to supplement other approaches in the study of strategic management impact.

Originality/value

To our knowledge, this chapter seems to be the first to propose bibliometric analysis for the study of strategic management in the African context. In that regard, it fills a gap in the research methodology literature. It can therefore help graduate students and junior faculty improve their careers.

Details

Advancing Research Methodology in the African Context: Techniques, Methods, and Designs
Type: Book
ISBN: 978-1-78441-489-4

Keywords

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Book part
Publication date: 4 December 2020

Barbara Čater and Urša Golob

This chapter analyses the evolution of strategic corporate social responsibility (CSR). Despite extensive research on the strategic aspects of CSR, the absence of a…

Abstract

This chapter analyses the evolution of strategic corporate social responsibility (CSR). Despite extensive research on the strategic aspects of CSR, the absence of a well-defined theoretical concept has hindered the development of the field. The authors build on the four mechanisms that conceptually distinguish strategic CSR from CSR in general: enhancing firm reputation, increasing stakeholder reciprocation, mitigating firm risk, and strengthening innovation capacity. By using bibliometric methods, we analyze the main topics, references, and sources of papers, found in the Web of Science Core Collection database. The analysis of the strategic CSR field discusses main topics through three periods (1991–2009, 2010–2014, and 2015–2019). The findings help identify the mapping of conceptual space of the strategic CSR field and suggest grounds for continuing the debates on how to advance the micro-level perspectives on CSR.

Details

Challenges on the Path Toward Sustainability in Europe
Type: Book
ISBN: 978-1-80043-972-6

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Article
Publication date: 19 September 2019

Mohammed Alharbi, Peter John Dowling and M. Ishaq Bhatti

The purpose of this paper is to explore the current strategic planning practices in the MENA region by highlighting the practices in the Saudi telecommunications industry…

Abstract

Purpose

The purpose of this paper is to explore the current strategic planning practices in the MENA region by highlighting the practices in the Saudi telecommunications industry (Saudi TI) and the external and internal factors that influence strategic planning in the Saudi TI.

Design/methodology/approach

The data comprised those from a questionnaire-based survey of a random sample of managers of Saudi TI firms, supplemented with data from secondary sources.

Findings

The results revealed that most participating managers recognized the potential benefits of using strategic planning in their firms. Several significant factors that impacted on the decision-making process with regard to strategic planning in Saudi TI firms were identified.

Originality/value

The main contribution of this paper is to fill an existing knowledge gap on strategic planning in a key industry such as the telecommunications industry in a country that is of importance as a business hub in the Middle East.

Details

Review of International Business and Strategy, vol. 29 no. 4
Type: Research Article
ISSN: 2059-6014

Keywords

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