Title

Strategic Management

Date of this Version

2016

Document Type

Book Chapter

Publication Details

Citation only

O'Brien, D., & Corbett, B. (2015). Strategic management. In T. Byers (Ed.), Contemporary Issues in Sport Management: A Critical Introduction (pp. 149-162). London, United Kingdom: Sage Publications.

Access the publisher

© Copyright, Danny O'Brien and Ben Corbett, 2016

ISBN

9781446282182

Abstract

Strategy is about decision malting, long-term impacts, integration and focus, the implementation of decisions, creating value for customers and key stakeholders, and outperforming competitors. The objective of strategic management is to develop a competitive advantage over rivals. Ideally, over an extended period of time, a sport organization can create sustainable competitive advantage. Competitive advantage comes from an organization's ability to perform activities more effectively than rivals can. The strategic process may begin with an external and internal environmental analysis, from which an identification of strengths, weaknesses, opportunities and threats (SWOT) can be made. A visual representation of this process is referred to as a SWOT analysis. From this, decisions regarding strategic method and direction can be made. In some, but not all, sport organizations, a formalized strategic plan is produced. In implementing this strategic plan, on-going environmental analysis assists in malting decisions regarding resource allocations and appropriate organizational structures. Once strategies are implemented, mechanisms of strategic are required to ensure goals and objectives are being met. These control mechanisms provide for strategic evaluation throughout each step in the process, and adjustments can be implemented as and when required. In this chapter, rather than the complete strategic management process, our focus is on the sub-components involved in environmental analysis, and strategy evaluation and selection.

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