This is a book about strategic management, which is based on the research works of the author. The book has more than 1,000 cited references. The readers i.e. students, research scholars, business decision makers, government policy makers, will be introduced to a unique “MOST” framework of strategic management that exploits the different views and ideologies of strategies, as organized inventories of cognition, in the strategic analysis or research processes, in order to arrive at strategic choices and a robust business model for winning in the marketplace. Four empirical research examples are illustrated. Both the undergraduate and post-graduate students of business majors would benefit significantly from this comprehensive compendium of strategy formation and management knowledge.
The book is arranged in sixteen chapters. Chapter 1 is the introduction. Chapter 2 presents various nature and characteristics of strategy and introduces the “MOST” model to strategic management. Chapter 3 provides some theoretical positions of the “MOST” model. Chapter 4 discusses the various “Ps” nature of strategy, including introducing a P-based strategic management framework. The detailed skeleton of the “MOST” is covered in Chapter 5. Chapter 6 overviews some important strategy tools. In Chapter 7, different nature of strategic choice is presented. Chapter 8 provides the evaluation criteria for assessing the strategic choice. Chapter 9 presents various elements of strategy implementation. Chapter 10 covers business model, including a subsection of CBT (Community-based Tourism) which is the research of the author and colleague Dr. Busaba Sitikarn. Chapter 12 overviews the research method for strategy formulation. Chapters 13-16 present four empirical research reports in various aspects of strategic management. In essence, The “MOST” model is an example of the “systemic” approach to strategic management. The word “systemic” is linked to “systems”, which is premised on a philosophy that no idea can be fully understood until it is incorporated into an organized field of knowledge. Thus, the “MOST” model is an effort made to arrive at an organized body of knowledge, which has been vastly neglected in the extant literature. The overall systemic configuration of the “MOST” strategic management model is shown in the following conceptual framework.
Operatively and tactically, being “systemic” in nature embeds and embodies a learning-centric driving force in play. Operatively, continuous performance improvement – a key success attribute often associated with world class practice and management – has been concluded to be achievable only when an organization monitors its progress constantly, based on measured facts, depicting the “MOST” model in continuous feedback loop system. Otherwise, organizational performance would be created at random. The tactical domain concerns the subtleties of the complex relationships of relevant variables embedded in the system of strategic measurement, and the roles the variables could play in ensuring reliability and accountability. This depends on the daily reproduction of performance expectations as depicted in the single-loop learning mechanism, and also depends on the ability to learn beyond the confines of the present knowledge profiles of the organization. Tactical insight, therefore, provides a rich explanation for performance measurement and strategic management systems.
A research-oriented, also known as organizational intelligence development, approach to strategic formulation is emphasized in this book. According to Rumelhart and Norman (1981), real learning involves accretion, or the encoding of new information in terms of existing schemata, restructuring of schema, schema creation and the process whereby new schemata are created, tuning or schema evolution, or the modification and refinement of a schema as a result of using it in different situations (Shuell, p. 91), leading to introducing a research-oriented approach to strategic management in this book.
On similar counts, Johnson (2011) studies how active learners learn better than passive learners when they are subjected to a context that is meaningfulness, which is facilitated by the diversified views and ideologies of strategy discussed in Chapter 2. The “MOST” model is a platform of a meta-communication of firms. The “reflexive” nature of organizations and the social world leads to the concept of treating strategic management as a meta-communication, and thus, to succeed in the meta-communication, the “MOST” model establishes an effective communication process to relate between the organization and the environments. Whether inductive or deductive in the research approach to strategy formations, managers use mental representations that mirror the reality, as perceived through the senses (Barnes, 1984) or some statistical instrument and phenomenological structure of understanding (Tan, 2016), to interpret external environmental information (Feeney and Handley, 2006) as well as internal and socio-psychological information (Tan, 2016). In other words, in the view of cognitive science, strategists’ cognition mediates between the external environmental and their responses to environmental stimuli (Moors and De Houver, 2006; Karakaya and Yannopoulos, 2010), as shown in the “MOST” model of strategic management.