The History of Strategic Management
No one should grow up without a sense of history. History contains many clues to why things are the way they are today. This chapter is concerned with the history of strategic management as a theoretical and practical discipline and is an important prelude to the contents of this book.
SCHOOLS OF THOUGHT ABOUT STRATEGY
There is a rule of thumb from psychology that a person can think about seven-plus-minus-two things at any one given moment in time. In fact, Henry Mintzberg (1999) makes a point of making clear to his readers that he, a strategist, can think about ten
schools of thought about strategic management. I am aware of my shortcomings when I assert that strategic management is divided into four
schools of thought when viewed in a historical light.
|• The school of long-range planning that originated after World War II as army officers returned from war to corporate life and took their military concepts with them. |
|• The school of strategic planning that originated in the 1960s as the field of strategic management became academic and filled with models and theories. |
|• The school of product-market strategy that originated in the 1970s as the oil crisis of those days signaled the need for a more dynamic notion of strategy. |
|• The latest school of complex strategic management that originated in the late 1980s as a general feeling grew that product-market |