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In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models often include a feedback loop to monitor execution and to inform the next round of planning.
Management consulting is the practice of helping organizations to improve their performance. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external advice and access to consultants' specialized expertise.
Gary P. Hamel is an American management consultant. He is a founder of Strategos, an international management consulting firm based in Chicago.
Michael Eugene Porter is an American academic known for his theories on economics, business strategy, and social causes. He is the Bishop William Lawrence University Professor at Harvard Business School, and he was one of the founders of the consulting firm The Monitor Group and FSG, a social impact consultancy. He is credited for creating Porter's five forces analysis, which is instrumental in business strategy development today.
McKinsey & Company is a management consulting firm, founded in 1926 by University of Chicago professor James O. McKinsey, that advises on strategic management to corporations, governments, and other organizations. McKinsey is the oldest and largest of the "Big Three" management consultancies (MBB), the world's three largest strategy consulting firms by revenue. It has consistently been recognized by Vault as the most prestigious consulting firm in the world.
Bruce Doolin Henderson was an American businessman and management expert. He founded Boston Consulting Group (BCG) in 1963 in Boston, Massachusetts and headed the firm as the president and CEO until 1980. He continued to serve as chairman of BCG until 1985.
IBM Consulting, rebranded from IBM Global Business Services, is the professional services arm of IBM. Along with IBM's Global Technology Services division, it previously was part of IBM Global Services.
A value network is a graphical illustration of social and technical resources within/between organizations and how they are utilized. The nodes in a value network represent people or, more abstractly, roles. The nodes are connected by interactions that represent deliverables. These deliverables can be objects, knowledge or money. Value networks record interdependence. They account for the worth of products and services. Companies have both internal and external value networks.
Service design is the activity of planning and arranging people, infrastructure, communication and material components of a service in order to improve its quality, and the interaction between the service provider and its users. Service design may function as a way to inform changes to an existing service or create a new service entirely.
Enterprise relationship management or ERM is a business method in relationship management beyond customer relationship management.
ERM - Enterprise Relationship Management is basically a business strategy for value creation that is not based on cost containment, but rather on the leveraging of network-enabled processes and activities to transform the relationships between the organization and all its internal and external constituencies in order to maximize current and future opportunities.
The resource-based view (RBV) is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage.
Co-creation, in the context of a business, refers to a product or service design process in which input from consumers plays a central role from beginning to end. Less specifically, the term is also used for any way in which a business allows consumers to submit ideas, designs or content. This way, the firm will not run out of ideas regarding the design to be created and at the same time, it will further strengthen the business relationship between the firm and its customers. Another meaning is the creation of value by ordinary people, whether for a company or not.
Oliver Wyman is an American management consulting firm. Founded in New York City in 1984 by former Booz Allen Hamilton partners Alex Oliver and Bill Wyman, the firm has more than 60 offices in Europe, North America, the Middle East, and Asia-Pacific, employing over 5,000 professionals. The firm is part of the Oliver Wyman Group, a business unit of Marsh McLennan.
Thomas Hayes "Tom" Davenport, Jr. is an American academic and author specializing in analytics, business process innovation, knowledge management, and artificial intelligence. He is currently the President’s Distinguished Professor in Information Technology and Management at Babson College, a Fellow of the MIT Initiative on the Digital Economy, Co-founder of the International Institute for Analytics, and a Senior Advisor to Deloitte Analytics.
Boston Consulting Group (BCG) is an American global management consulting firm founded in 1963, headquartered in Boston, Massachusetts. The firm is the second largest consulting firm by revenue. It is one of the Big Three — the world’s three largest and most prestigious management consulting firms — along with Bain & Company and McKinsey & Company.
L.E.K. Consulting is a British management consulting firm. Founded in London in 1983 by three partners from Bain & Company, L.E.K operates principally in the areas of corporate strategy, mergers and acquisitions, and operations. It employs a generalist model across all major industries, including defense, aviation, life sciences, healthcare, energy, entertainment, transport, retail, consumer products and financial services. The company also has a private equity practice.
David Ing is a Canadian systems scientist, business architect, management consultant, and marketing scientist. He served as President of the International Society for the Systems Sciences (2011-2012).
Scandinavian Institutes for Administrative Research (SIAR) was a Swedish consulting company and research institute founded by the late Professor Eric Rhenman in the mid-1960s. From 1966 to 1971 SIAR was a research institute. During the 1970s the profile was changed, so that it became the leading Swedish consulting company throughout the 1970s with some ten offices around the world. The institute developed a method for organization development, based on a strong theoretical foundation that was inspired by American researchers such as Herbert Simon, Philip Selznick and James D. Thompson.
Howard M. Guttman is an American management consultant and founder of Guttman Development Strategies, a consulting firm. Guttman is best known for his theories on corporate organizational hierarchies, positing that the traditional, top-down model of management is less effective than the horizontal, high-performance organization, where decisions are made by cross-functional teams with equal authority.
Richard Max Burton is an American organizational theorist and Emeritus Professor of Management and Organization at The Fuqua School of Business, Duke University, known for his work in the field on business strategy and organizational design.
References
- ↑ Isaksson, Pär. "Richard Normann död". Affärsvärlden. Retrieved 20 November 2003.
- ↑ "The legacy of Richard Normann". NormannPartners.
- ↑ Bränfeldt, Lars-Eric. "Gurun om jättarnas strategiska missar". Affärsvärlden. Retrieved 20 November 2003.
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