I. INTRODUCTION

STYRATEGIC MANAGEMENT: DEAD OR IN DEMAND AS NEVER BEFORE

A lot of companies are striving hard to get a place in business. A number of those that started die along the way due to lack of proper strategy.
Yes, I do believe that organizations with proper strategy implemented and managed stand a better chance and have better competitive advantage over their counterparts.

Strategic management is used by organizations to analyze and learn from their internal and external environment.
It is about going forward (where to from here) It is about establishing a strategic direction.
It is about establishing a strategic direction
Strategic management is also about implementing strategies that would satisfy customers.

The nature of strategy, which needs to be managed, is formulated around the 5 Ps (Louw and Venter 2010:15)
Plan, pattern, position, perspective and ploy.

As a plan, strategy has been viewed as something that an organization has, and strategy as a perspective viewed as something that people do.
Strategy is influenced by extra organizational practices and inter-organizational practices. Therefore there is a reciprocal relationship between intra and extra organizational strategic activities.

- Strategy as a plan:
Provides overall direction and course of action. As a plan, strategy formulation is a formal process. This approach ahs been criticized for being a rational, top-down approach, hoever research shows that formal planning contributes towards better strategic decision making.
- Strategy as a position: concerns the determination of products. As a position, strategy looks downwards and outwards, towards the external competitive market.
- Strategy as a perspective: refers to the organizations way of doing things. A perspective strategy looks inside the organization, inside the mindsets of strategists. The focus in