Strategy development processes and Strategic decision making in high-velocity environments

Seminar paper from the year 2015 in the subject Business economics - Business Management, Corporate Governance, grade: 1,6, Edinburgh Napier University, language: English, abstract: Deliberate strategy, formal planning and the intention to create a detailed strategic plan (e.g. Porter) vs. an emergent strategy, which focuses on reacting to prevalent market changes (e.g. Mintzberg). Strategy itself is an ambiguous concept with a multitude of questions to be considered, for instance, whether the process of strategic thinking should be predefined or rather an intuitive act. If Google, one of the most successful companies in the world, is taken as an example, it does not become any clearer what approach is recommended to follow, as the company decides to shut down products that seem popular, in order to invest in alternative projects. Have globalisation and economic deregulation created an environment too complex to be captured in a strategic framework? This essay will first analyse strategy development processes with a focus on deliberate and emergent approaches, and secondly continue with a critical discussion about the applicability of these techniques in a high-velocity environment. Finally this essay will provide managerial implications for an effective approach to strategy development. Taking Google as an example illustrates how a company achieves to integrate essential features from both, the deliberate and the emergent strategy, which bears strong resemblance to the most deliberate approach among those classified as emergent - logical incrementalism.