fljuta
Practising
, Practising Strategy
A southern African context
Third edition
Editors
Tersia Botha and Peet Venter
KI
juta
,Practising Strategy: A southern African context 3e
First Edition 2014
Second Edition 2019
Third Ed tion 2022
Juta and Company (Pty) ltd
First Floor, Sunclarc Building,
21 Dreyer Street, Claremont, 7708
Cape Town, South Africa
c 2022 Juta and Company (Pty) Ltd
ISBN (print): 978 1 48513 264 6
ISBN (webPDF): 978 1 48513 265 3
All rights reserved. No part of this publication may be reproduced or transmitted in any form or by
any means, electronic or mechanical, including photocopying, recording, or any information storage
or retrieval system, without prior permission in writing from the publisner. Subject to any applicable
licensing terms and conditions in the case of electronically supplied publications, a person may engage
in fair dealing with a copy of this publication for his or her personal or private use, or his or her research
or private study. See Section 12( 1 )(a) of the Copyright Act 98 of 1978.
Project Specialist: Samantha Simmons
Editor: Elisma Roets
Proofreader: James P Ryan
Cover designer: Drag and Drop
Indexer: language Mechanics
Typesetter: Elinye Ithuba DTP Solutions
Typeset in lOpt Rotis Serif Std
The authors and the publisher believe on the strength of due diligence exercised that this work does
not contain any material that is the subject of copyright held by another person. In the alternative,
they believe that any protected pre-existing material that may be comprised in it has been used with
appropriate authority or has been used in circumstances that make such use permissible under the law.
, CONTENTS
PREFACE............................................................................................................................ ix
ABOUT THE AUTHORS .................................................................................................... xi
ACKNOWLEDGEMENTS.................................................................................................. xiii
CHAPTER 1: THE EVOLUTION OF MANAGEMENT
THEORIES.................................................................. 1
1.1 The traditional theories of management.............................................................. 7
1.2 Responsible management..................................................................................... 15
1.3 The drivers of responsible management................................................................ 29
1.4 Strategy and responsible management................................................................ 36
The big picture................................................................................................................... 38
Summary of learning outcomes........................................................................................ 38
Discussion questions......................................................................................................... 39
Learning activities............................................................................................................. 40
Endnotes............................................................................................................................ 40
CHAPTER 2: INTRODUCING THE PRACTICE OF STRATEGY.................................. 43
2.1 The origins of strategic management.................................................................. 45
2.2 The universal principles of strategic management ............................................. 46
2.3 Defining strategy.................................................................................................. 52
2.4 Strategic decisions................................................................................................ 55
2.5 How do we measure the success of strategy?..................................................... 56
2.6 A contemporary strategic management framework........................................... 57
The big picture................................................................................................................... 61
Summary of learning outcomes........................................................................................ 61
Discussion questions ........................................................................................................ 63
Learning activities............................................................................................................. 64
Endnotes............................................................................................................................ 64
CHAPTERS: A PROCESS PERSPECTIVE OF STRATEGIC MANAGEMENT............. 65
3.1 A process perspective of strategic management................................................. 69
3.2 The new competitive realities - criticising the process perspective of
strategic management.......................................................................................... 74
3.3 The management levels involved in strategic management .............................. 75
3.4 Strategic planning ................................................................................................ 75
Practising
, Practising Strategy
A southern African context
Third edition
Editors
Tersia Botha and Peet Venter
KI
juta
,Practising Strategy: A southern African context 3e
First Edition 2014
Second Edition 2019
Third Ed tion 2022
Juta and Company (Pty) ltd
First Floor, Sunclarc Building,
21 Dreyer Street, Claremont, 7708
Cape Town, South Africa
c 2022 Juta and Company (Pty) Ltd
ISBN (print): 978 1 48513 264 6
ISBN (webPDF): 978 1 48513 265 3
All rights reserved. No part of this publication may be reproduced or transmitted in any form or by
any means, electronic or mechanical, including photocopying, recording, or any information storage
or retrieval system, without prior permission in writing from the publisner. Subject to any applicable
licensing terms and conditions in the case of electronically supplied publications, a person may engage
in fair dealing with a copy of this publication for his or her personal or private use, or his or her research
or private study. See Section 12( 1 )(a) of the Copyright Act 98 of 1978.
Project Specialist: Samantha Simmons
Editor: Elisma Roets
Proofreader: James P Ryan
Cover designer: Drag and Drop
Indexer: language Mechanics
Typesetter: Elinye Ithuba DTP Solutions
Typeset in lOpt Rotis Serif Std
The authors and the publisher believe on the strength of due diligence exercised that this work does
not contain any material that is the subject of copyright held by another person. In the alternative,
they believe that any protected pre-existing material that may be comprised in it has been used with
appropriate authority or has been used in circumstances that make such use permissible under the law.
, CONTENTS
PREFACE............................................................................................................................ ix
ABOUT THE AUTHORS .................................................................................................... xi
ACKNOWLEDGEMENTS.................................................................................................. xiii
CHAPTER 1: THE EVOLUTION OF MANAGEMENT
THEORIES.................................................................. 1
1.1 The traditional theories of management.............................................................. 7
1.2 Responsible management..................................................................................... 15
1.3 The drivers of responsible management................................................................ 29
1.4 Strategy and responsible management................................................................ 36
The big picture................................................................................................................... 38
Summary of learning outcomes........................................................................................ 38
Discussion questions......................................................................................................... 39
Learning activities............................................................................................................. 40
Endnotes............................................................................................................................ 40
CHAPTER 2: INTRODUCING THE PRACTICE OF STRATEGY.................................. 43
2.1 The origins of strategic management.................................................................. 45
2.2 The universal principles of strategic management ............................................. 46
2.3 Defining strategy.................................................................................................. 52
2.4 Strategic decisions................................................................................................ 55
2.5 How do we measure the success of strategy?..................................................... 56
2.6 A contemporary strategic management framework........................................... 57
The big picture................................................................................................................... 61
Summary of learning outcomes........................................................................................ 61
Discussion questions ........................................................................................................ 63
Learning activities............................................................................................................. 64
Endnotes............................................................................................................................ 64
CHAPTERS: A PROCESS PERSPECTIVE OF STRATEGIC MANAGEMENT............. 65
3.1 A process perspective of strategic management................................................. 69
3.2 The new competitive realities - criticising the process perspective of
strategic management.......................................................................................... 74
3.3 The management levels involved in strategic management .............................. 75
3.4 Strategic planning ................................................................................................ 75
