Assignment 1. Unit 3 Preview In this unit, you consider how enterprises may develop a strategic position statement. You will review how creating a position statement leads to strategic decision-making. This involves choosing among alternative interpretations of issues, their significance and preferred strategic response. You will also consider the role of key decision-makers in the strategic decision-making process. It is important to note that specific techniques for undertaking the various elements of internal and external analysis which support the development of the strategic position statement are examined in the next two units. This unit is designed to give you the more macro perspective of the strategic decision-making process. Learning Objectives Students will: • Analyse constraints on strategic decision-making • Analyse leadership in strategic decision-making • Evaluate a general management team relative to strategic decision-making • Analyse a firm's strategic position statement Readings Required(Very Important) Pitt, M., & D. N. Koufopoulos, (2012) Essentials of Strategic Management, London: Sage Chapter 6, 'Strategic Decision-Making' (pp.161-183) Chapter 7, 'Enterprise-Level Strategy Frameworks' (pp.184-207) Bailey, B. C., & I. Simor, (2013) 'Boardroom Strategic Decision-Making Style: Understanding the Antecedents', Corporate Governance: An International Review, 21 (2) pp.131-146 Boardroom strategic decision-making style: Understanding and antecedents by Bailey, B.C., & Peck, S.I., in Corporate Governance: An International Review, 21/2. Copyright 2013 by Blackwell Publishing Ltd. Reprinted by permission of John Wiley & Sons-Journals via the Copyright Clearance Center. Collis, D. J., & M. G. Rukstad, (2008) 'Can You Say What Your Strategy Is?', Harvard Business Review, 86 (4) pp.82-90. Retrieved from https://cb.hbsp.harvard.edu/cb/pl/22461329/23097336/3603197803aedc16047c1482b9496df2 How easy is it to explain your strategy? Once you finish explaining, will the audience be able to articulate your strategy well? In this article, the authors discuss why the answers to these questions are so important when implementing a strategy. They describe how to craft a strategy statement which communicates the aims of a strategy simply and succinctly. Ignatius, A., (July/August 2010) 'The HBR Interview: We Had to Own the Mistakes,' Harvard Business Review, Available at: https://cb.hbsp.harvard.edu/cb/pl/22461329/22661520/60d6de1fbf00fb277da4d8ccd8746d62, (accessed: 15/11/13) An interview with Howard Schultz, the CEO of Starbucks Corporation. Mitchell, J. R., D. A. Shepherd, & M. P. Sharfman, (2011) 'Erratic Strategic Decisions: When and Why Managers Are Inconsistent in Strategic Decision Making', Strategic Management Journal, 32 (7) pp. 683-704 Erratic strategic decisions: when and why managers are inconsistent in strategic decision making by Mitchell, J.R., Shepherd, D.A., & Sharfman, M.P., in the Strategic Management Journal, 32/7. Copyright 2011 by John Wiley & Sons Ltd. Reprinted by permission of John Wiley & Sons-Journals via the Copyright Clearance Center. Reeves, M., C. Love, & P. Tillmanns, ( September 2012) 'Your Strategy Needs a Strategy', Harvard Business Review, Retrieved from https://cb.hbsp.harvard.edu/cb/pl/22461329/23097332/820f7d93c9a064eb43e2ec722ffd2d62 (accessed: 15/11/13) The authors provide a framework to help strategists systematically match "strategy making style" to the particular circumstances of their competitive ecosystem and stakeholder environment. Hart, S. L. (1992) 'An Integrative Framework for Strategic Making Processes', Academy of Management Review, 17 (2), pp.327-351 Kahneman, D., D. Lovallo, & O. Sibony, (2011) 'Before You Make That Big Decision', Harvard Business Review, 89 (6) pp.50-60 Papadakis, V. M., S. Lioukas, & D. Chambers, (1998) 'Strategic Decision-Making Processes: The Role of Management and Context', Strategic Management Journal, 19 (2) pp.115-147