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Additional info for ACCA P3 Business Analysis: Study Text
Despite its name, your syllabus deals with the full scope of strategic management and we will provide you with complete coverage in this Text. ea Section A of your syllabus is largely concerned with the analysis aspect of strategic management, but before we start to discuss that in detail, we will give you an overview of how it fits into the bigger strategic picture. This exploration of strategic management covers the material specified in the first element of syllabus Section A. fre The main reference for Sections A, B and C of your syllabus is the seventh edition of Exploring Corporate Strategy by Johnson, Scholes and Whittington.
Com In the 1960s and extending into the 1970s, the highly rational corporate planning approach was popular. This incorporated operational research ideas and highly systematised analysis of the influences on the organisation's operations. At the same time, writers such as Simon and Lindblom were challenging rational decision models as unrealistic because of the impossibility of carrying out the full analysis of relevant factors that such models demanded. However, the planning model was popular and corporate planning departments were common in large organisations.
C) The organisation is a hierarchy in which strategy is an exclusively management responsibility. (d) The organisation is also a rational, almost engineered, system that is capable of putting management's plans into effect. as (a) cc The view of strategy as design is useful since it leads to the use of a number of tools and techniques that are both logical and practical. However, it does not describe the whole of strategic management. 2 Strategy as experience ea This view sees strategy as an adaptation and extension of what has worked in the past.