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featured management models

three generic strategies: Porter, Michael E.
 

three generic strategies

Porter, Michael E.

  • topic: strategic management
  • period: 1980
Michael Porter regarded the selection of a defendable position within an industry as the end result of a competitive strategic analysis. He argued that successful, profitable companies generally choose to compete on either low costs or by differentiating their products to meet specific customer needs. Although these two strategic options are mutually exclusive,...
 
strategic choice typology: Miles, Raymond E., Snow, Charles C.
 

strategic choice typology

Miles, Raymond E., Snow, Charles C.

  • topic: org. design & development and strategic management
  • period: 1978
In 1978, the American academics Miles and Snow developed their strategic choice typology and helped launch the configurational branch of business strategy. Their study brought together the situationalist and the universalist camps who were disputing how companies should compete in a given market. For situationalists, generic strategies were intrinsically...
 
bounded rationality: Simon, Herbert A.
 

bounded rationality

Simon, Herbert A.

  • topic: communication and leadership & management
  • period: 1947
Over his lifetime, the academic scholar and Nobel price winner, Herbert Simon, explored the boundaries of human decision making in dynamic environments and contributed significantly to management literature, economics, cognitive psychology and artificial intelligence. He questioned the assumptions behind the rational decision making process...
 
five forces: Porter, Michael E.
 

five forces

Porter, Michael E.

  • topic: strategic management
  • period: 1980
Michael Porter's innovative research in the 1980's changed managers' perceptions of their own industry's importance as a factor for their company's strategy. Business unit managers would now have to study their industry's characteristics since an industry's structure determines its relative economic attractiveness and hence, the profit potential of all companies...