- Who invented business strategy?
- Where did strategy come from?
- When was the word strategy first used?
- What are the 5 strategies?
- What is the difference between a strategy and a framework?
- What does dog symbolize?
- What is the full form of BCG matrix?
- Who is the father of strategic management?
- Who introduced the concept of stretch and leverage?
- What does dog represent in BCG?
- What are the five P’s of strategy?
- What is cash cow in BCG matrix?
Who invented business strategy?
One of the first individuals credited with developing and implementing strategy in the business landscape is Alfred Sloan, head of General Motors from 1923 to 1955.
In 1921, Sloan reorganized GM as documented in his book entitled, My Years with General Motors, published in 1963..
Where did strategy come from?
The term “strategy” is derived indirectly from the Classic and Byzantine (330 A.D.) Greek “strategos,” which means “general.” While the term is credited to the Greeks, no Greek ever used the word.
When was the word strategy first used?
1770s2 The word “strategy” first came into use in discussions of military affairs in Europe during the 1770s,3 but it was not until the 20th century that it acquired the broad meanings now attributed to it and that now tend to be applied retrospectively to past practitioners.
What are the 5 strategies?
They stand for Plan, Pattern, Position, Perspective and Ploy. These five components allow an organisation to implement a more effective strategy. A strategy is aimed at the future, concerns the long term and involves different facets of an organisation.
What is the difference between a strategy and a framework?
A strategic plan tends toward short-term, actionable tasks. A strategic framework, while focused, allows the flexibility to adapt to changing global trends, policy mandates, and marketplace needs. … A framework is more flexible in adapting to marketplace changes.
What does dog symbolize?
Dogs are portrayed as guides and companions, hence the notion of “man’s best friend.” Often associated with art and cunning, as it can be trained to do the greatest variety of jobs. While rarely negative symbols, they do have some unfavorable characteristics.
What is the full form of BCG matrix?
The Boston Consulting group’s product portfolio matrix (BCG matrix) is designed to help with long-term strategic planning, to help a business consider growth opportunities by reviewing its portfolio of products to decide where to invest, to discontinue or develop products. It’s also known as the Growth/Share Matrix.
Who is the father of strategic management?
Dr Igor Ansoff1 THE FATHER OF STRATEGIC MANAGEMENT Symbolically enough, it was on the commemoration day of the French Revolution, July 14, 2002, that Dr Igor Ansoff, who had made revolutionary contributions to the two major disciplines of corporate strategy and strategic management, passed away at the age of eighty-three.
Who introduced the concept of stretch and leverage?
The Concept of Stretch, Leverage and Fit in Strategic Management was added by Hamel and Prahalad to the strategic intent. Subsequent to the idea of strategic intent, Hamel and Prahalad added the concept of ‘stretch’ and ‘leverage’.
What does dog represent in BCG?
A dog is one of the four categories or quadrants of the BCG Growth-Share matrix developed by Boston Consulting Group in the 1970s to manage different business units within a company. A dog is a business unit that has a small market share in a mature industry.
What are the five P’s of strategy?
Each of the 5 Ps stands for a different approach to strategy:Plan.Ploy.Pattern.Position.Perspective.
What is cash cow in BCG matrix?
Definition: Cash Cow is one of the four categories under the Boston Consulting Group’s growth matrix that represents a division which has a big market share in a low-growth industry or a sector. Cash generated from cash cows are used to fund other product portfolios of business. …