What Is International Strategic Management? Critically Examine the Course of Strategic Decision Making, Identifying the Types, Processes and Implication for Managers
International Strategic Management is a planning process of developing international strategy in the direction of achieving strategic-fit between the organisation's competence & resources and the global environment under which it tends to operate. It is an ongoing process that adhere an organization to compete in an international scenario.
International Strategic Management (ISM) is an ongoing management planning process aimed at developing strategies to allow an organization to expand abroad and compete internationally. Strategic planning is used in the process of developing a particular international strategy.
An organization must be able to determine what products or services they intend to sell, where and how the …show more content…
(ii) The symbolic mode. In this mode, strategy is driven by the organization's mission and vision of the future.
(iii) The rational mode, in which strategy is driven by formal structure and planning systems.
(iv) The transactive mode, strategy formulation is driven by internal processes and mutual adjustment.
(v) The generative mode, strategy is most strongly influenced by the initiative of organizational actors.
Strategic Decision Models and Characteristics
For the past few decades, researchers have attempted to model the strategic decision process and identify the major types or categories of strategic decisions. This is a difficult task since strategic decisions are often described as "unstructured", "unprogrammed", and "messy". Mintzberg, Raisinghani, and Theoret (1976) provided an early attempt at modeling the process of strategic decision making and identified three major phases with subroutines or subphases within each. These included the following:
THE IDENTIFICATION PHASE
1. The Decision Recognition Routine: Opportunities, problems, and crises are recognized and evoke decisional activity.
2. The Diagnosis Routine: Information relevant to opportunities, problems, and crises is collected and problems are more clearly identified.
THE DEVELOPMENT PHASE
3. The Search Routine: Organizational decision makers go through a number of activities to