INTERNATIONAL BUSINESS STRATEGY

Strategy Dimensions

Strategy Dimensions

Introduction

The most essential distinction among strategy process, strategy content and strategy context is made by Dewitt and Meyer. These are the three dimensions of strategy that can be recognized in every real life of strategic problem situation. Strategic decisions are characterized by considerable uncertainty, which derives from the multitude of variables that must be taken into account. There are various tools for strategic analysis, but we must understand the purpose of analysis that must include the strategy process, strategy content and strategy context. Contrary to what one might think, strategic analysis is not about providing answers, but tries to help understand the problems. This understanding involves the identification and classification of the main elements that affect strategic decisions. Usually the strategic management process can be divided into four stages or phases that include strategic analysis, choice of strategy, deployment or implementation and monitoring or evaluation of the strategy. All of these stages are based on distinguishable dimensions of strategy that is strategy process, content and context.

Discussion

Strategic planning is long-term planning that takes into account the internal and external variables and identifies sectors and market segments and targeted method of competition. Strategic planning is the process of rolling updated every year to study the external and internal developments. Planning of activities is the most important function of management.

Strategy Process

Stated in terms of a number of questions, strategy process is concerned with the how, who and when of strategy that how is and should, strategy be made, analyzed, dreamt-up, formulated, implemented, changed and controlled that who involved and when do the necessary activities take place. Strategy process is the manner in which strategies come about and is referred to as the strategy process (Wit and Meyer, 2005, pp. 42-68).

Strategy Content

Strategy content is stated in terms that strategy content is concerned with what of strategy that what is and should be the strategy for the company and each or its constituent units. The product or a strategy process is referred to as the strategy content.

Strategy Context

The set of circumstances under which both the strategy process and the strategy content are determined, referred to as the strategy context. Stated in terms of a question, strategy context concerned with the where of strategy that is in which firm and which environment arc the strategy process and strategy content embedded (Sterman, 2000, pp. 69-444).

Just as it is silly to speak or the length, width and height parts of a box, one cannot speak of the three parts of strategy either. It cannot be emphasized enough that strategy process, content and context are not different parts or strategy, but are distinguishable dimensions. Each strategic problem situation is by its nature three dimensional, possessing, process, content and context characteristics, and only the understanding of all three dimensions still give the strategist real depth of comprehension. Imagine a company wants to enter a foreign market, to reduce the uncertainty generated by this uncertainty; managers will want to have information prepared for the market that will ...