Strategic Management Assignment Example | Topics and Well Written Essays - 2000 words - 2

Strategic Management - Assignment ExampleRumelt has severely criticized the contemporary concepts of strategy, which is largely followed by strategists, marketers and leaders. According to Rumelt, a cheeseparing strategy consists of a specific plan for solving a defined problem or challenge. It involves multiple stages and tedious development of expertly and thoughtfully implemented policies. This strategy is designed focusing on the obstacles and the appropriate procedure to mitigate them. A major differentiating factor between Rumelts good strategy and other contemporary strategy is that his strategy stresses upon intelligent utilization of resources in order to solve specific issues, rather than distributing the resources without proper research.According to Rumelt, bad strategy is not necessarily the reverse of good strategy. In general, bad strategy has emerged from specific leadership dysfunctions and specific misconceptions. Bad strategies are characterized as follows1. Fluf f It means filling slogans with trends and popular buzzwords rather than authorised insights, thereby rendering the slogans empty. Here, aims or objectives of an organization are bluntly put in their strategies, without adding creativity or streamlining the same with business function or designate customers. Most of the mediocre and traditional organizations follow the similar unproductive approach.2. Failure in facing challenges It is impossible to create a strategy if leaders drop to identify as well as isolate the major issue or challenge faced.