A deliberate and structured approach where a business sets objectives and follows a clear predefined plan to achieve them
What is an emergent strategy?
A flexible and adaptive strategy that evolves over time in response to unexpected changes in the environment
What are the advantages of a planned strategy?
Clear objectives and direction
Easier resource allocation
Reduces uncertainty
What are the disadvantages of a planned strategy?
Rigid and slow to adapt
Might not respond well to unexpected market changes
What are the advantages of an emergent strategy?
More adaptable to change
Encourages innovation and continuous improvement
What are the disadvantages of an emergent strategy?
Can lack direction
Harder to allocate resource effectively
May result in inconsistent decision-making
Which businesses might benefit more from a planned strategy?
Large corporations in a stable environment e.g. a car manufacturer that requires long-term investments
Which businesses might benefit more from an emergent strategy?
Businesses in a rapidly changing market e.g. tech firms
Start-ups
Why might start-ups prefer an emergent strategy?
Particular useful in the early stages of a business, where uncertainty is high and the path to success in not clear yet. This allows for flexibility and adaptability to respond to market changes to follow the chance of success
