Strategic Management

The chapter on strategic management provides information on the beginnings of strategic management and the subsequent development of the descriptive and prescriptive schools of thought. The presentation of the three levels—corporate, business and functional strategy—shows that only a close interlocking and linking of the levels can ensure success. The context of strategy and organizational theory is also established and deepened using various examples from operations management. Among other things, friction often arises in the production environment between formal requirements and operational feasibility, so that the goals in operations management can often only be achieved through informal solutions. Implementation strategies in the context of organizational change management projects are also outlined. Finally, there is a brief discussion of approaches that combine strategy and organizational theory with practical implementation.