Strategic Management: From Theory to Implementation, Fourth Edition

Strategic management has a long history, although the words used to describe it have changed several times as the concepts have modified and developed. The aim of this chapter is to review the development of the subject from an approximate starting point in the mid-1960s, and to show how the modern approaches have emerged. The chapter is more than a history lesson, in that it also puts the various theories and concepts into a context, trying to cut through the confusion that results from the claims of certain authors that they offer the only true path to salvation.
In any aspect of management theory the enthusiastic practitioner is both a source of strength and a cause of weakness. Strength, because no concept of management can grow and develop unless it has the backing of keen supporters: weakness, because enthusiasm too often leads to an overselling of its benefits. The act of overselling causes a lack of precision and definition about the subject and surrounds it in a hazy vagueness.
Strategic management is no exception. It undoubtedly has a strong body of supporters, many of whom have contributed to the development of the subject. Without the people who apply the concepts, and those who research and think about them, the subject could never have developed. But some of the enthusiasts have never really understood...