Problems with Strategy
Business: AQA A Level (2023 Specification), topic 10.4.1
Problems with Strategy Implementation
It is critical that managers maintain a strong sense of strategic direction.
Types of strategy implementation
- Planned strategies are strategies which are planned by managers and leaders and are purposefully implemented.
- Emergent strategies are strategies which develop overtime but were not planned or implemented purposefully.
Strategic drift
- Strategic drift occurs when a business fails to respond to changes in the external environment, including customer demands, and therefore no longer offers the products and services demanded by customers.
Overcoming strategic drift
- In some cases, managers and leaders may not respond to changes in the market as they believe that changes will eventually reverse, but often this is not the case and many businesses have battled survival because of strategic drift. Businesses will need to make a transformational change or their failure to respond to market changes may otherwise become fatal.
Test yourself on Problems with Strategy
This occurs when a business fails to respond to changes in the external environment, including customer demands, and therefore no longer offers the products and services demanded by customers.
Which of the following terms does this describe?