Chapter 1: Over View of Business Policy and Strategic Management

Overview cont’d…

• According to the artistic perspective on strategy, it rests on the fact that it senses the state of the organization and seeks to mold its strategy like a potter molds clay. The strategists ultimately chart a course based on holistic thinking, intuition, and imagination.

Overview cont’d…

• To be successful in the long-run, companies must not only be able to execute current activities to satisfy an existing market, but they must also adapt those activities to satisfy new and changing markets
• Many companies can manage short-term bursts of high performance, but only a few can sustain it over a longer period of time.
• For example, of the original Forbes 100 companies listed in 1917, only 13 have survived to the present day.

"It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change." —Charles Darwin