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Strategic Management

In: Business and Management Practices in Greece

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  • Efthimios Poulis

Abstract

Today dramatic changes are occurring in the structure and operational scope of business, government and non-profit organizations. These changes originate in both the internal and external environment of the organization. The fundamental question in the field of strategic management is how firms achieve and sustain competitive advantage (Rumelt et al., 1994). This chapter discusses the strategic management practices followed by organizations in Greece. Strategic management provides the link to all the different functions inside organizations which will be analyzed in the sections of this chapter. Furthermore, the chapter presents the main concepts and frameworks that are widely used in strategic management, and extends their application to the Greek business system. In order to analyze the micro-external environment, Porter’s Five Forces (1980) model is used, while for the internal environment, the Resource Based View (RBV) of the firm (Barney, 1991) model and the value chain (Porter, 1985) are used. For competitive strategies, Porter’s (1980) generic strategies and Bowman’s (1995) strategy clock will be used. Finally, the analysis of corporate strategies refers to diversification, both related and unrelated (Thompson et al., 2007).

Suggested Citation

  • Efthimios Poulis, 2011. "Strategic Management," Palgrave Macmillan Books, in: Rea Prouska & Maria Kapsali (ed.), Business and Management Practices in Greece, chapter 7, pages 141-154, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30653-0_7
    DOI: 10.1057/9780230306530_7
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