Strategic Marketing: Planning and Control, Third Edition

There is the need to plan actions, allocate resources and, where appropriate
restructure, to achieve strategic change.

The strategic perspective 7

The

environment

Culture and

stakeholder

expectations

Resources

and

capability

Strategic

Industry analysis

Strategic

choice

Strategic

implementation

Evaluating

options

Strategic

options

Selecting

strategy

Managing

strategic

change

Resource

planning

Organisation

structure and

design

Figure 1.2
Elements of strategic management (Source: Johnson and Scholes, 1999).

It is important to remember that strategic management is not the orderly,
logical sequence of events/activities that managers wish for. Practical real-
ity means processes are interlinked and overlapping. For example, strat-
egic analysis does not stop (or at least should not stop) when other stages
take place. Analysis is an on-going activity. Equally, creativity, vision and
leadership are required to turn analysis into successful strategy. Given the
volatility in today’s business world, a contingency approach may be
required. This provides flexibility by developing contingencies for a range
of future scenarios.