Senate Hall Academic Publishing

Journal of Strategic Management

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ISSN: 1649-3877

Listed by: Cabells and EBSCO

Frequency: 1 online Volume per year


Strategic Thinking ? Has It Any Economic Value?

JSME Vol 2: 2005

Author(s): Tony Grundy (Cranfield School of Management) and Laura Brown (Cardiff University)

Strategic Thinking is a key element of strategic management theory and prescription, yet many manageers are not clear about its value ? real and potential. This exploratory research (using grounded theory) dissects the ways in whch strategic thinking can add economic value ? and the organisational conditions (and their alignment) required to produce this. The research was carried out on one group of managers and on a group of business school academics. Both groups had many commonalities, but also differences in emphasis, with managers putting most importance on deliberate strategy/analytical frameworks than the academics. The paper illustrates a number of key areas of where strategic thinking can add economic value. It goes on to posit how a more quantitative and pre-targeted approach to putting an economic value on a stream of strategic thoughts ought to be done, and how the econimic value resulting from this could be apportioned between the original thought process and the activities entailed in implementation. Tesco non food is used as a short illustrative case study to show how this might be done.

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