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Strategic Options for Corporate Survival

SECOND EDITION

By Gregory Osagie Akhibi, IPMA-C, CCP, PMP

Port Harcourt, Nigeria

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1.    Abstract

There is a superfluity of thoughts in the field of strategy and strategic management making coherent and directed research quite daunting and interesting; the term “STRATEGY” has therefore been variously defined by different scholars. This paper shall review the definition of strategy followed by the identification of dominant schools of thought to understand the ideological differences and influences on the divergent views being proffered.

Strategy formulation processes shall be reviewed to further develop existing frameworks with a view to developing applicability under the present social, economic and political milieu. Finally the paper shall seek to harmonize views on strategy by aggregation of positions in a coherent manner which would propose plausible approaches to corporate strategy. 

Keywords:  Strategy, Corporate, Dynamic, Continuum

2.    Introduction

The rapid growth witnessed in the 1950’s and 1960’s led to several revolutionary management concepts which sought to help business leaders and organizations at large come to terms with changing consumers’ demands. This period of increased opportunities and threats thrown up by technological advances, awareness and knowledge of workers and consumers, globalization and cultural pluralism was theorized by Drucker as the “Age of Discontinuity” Ref [1].

Strategic management is intended to make sure organizations do not lose sight of their goals and objectives. If this be the case then, one would expect that matured organizations employing strategic management initiatives would not falter in pursuit of realizing their overall goals and objectives. With the plethora of corporate failures recorded yearly, one question therefore that begs to be answered is what these numerous corporate failures can be attributed to? Is it a deficit in strategies, poor implementation or an erroneous perception of what “strategy” is?

The present economic uncertainties offer a sterling opportunity for corporate strategic planners to rethink the pathways for corporate success to ensure easy navigation of these treacherous times. This paper shall explore how corporate strategies can be used to turn these current economic uncertainties into a competitive advantage by exploring models for dynamic formulation and implementation of strategies.

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Editor’s note:  Second Editions are previously published papers that have continued relevance in today’s project management world, or which were originally published in conference proceedings or in a language other than English.  Original publication acknowledged; authors retain copyright.  This paper was originally presented at the 2012 AACEi Annual General Meeting.  It is republished with author’s permission.

About the Author

pmwj25-aug2014-Akhibi-AUTHOR IMAGEGregory Osagie Akhibi IPMA-C,CCP, PMP flag-nigeria

Shell Petroleum Development Company

Port Harcourt, Nigeria

Gregory Osagie Akhibi CCC, PMP is a Project Lead with Shell Petroleum Development Company on the Trans Niger Pipeline Loopline Project in Nigeria. He holds an MSc in Construction Project Management from Heriot Watt University, Edinburg.

Greg is a Registered Mechanical Engineer with interest and experience in developing solutions to improve efficiency, effectiveness and reliability particularly in the field of project management. He has extensive experience in Construction Management, Cost Management, Contract Administration and Business Development. He is a member of several professional bodies including Nigerian Society of Engineers, Association for the Advancement of Cost Engineering International, International Project Management Association, Project Management Development Association of Nigeria, and Project Management Institute. You can reach him at [email protected]