Strategy and strategic management concepts: are they recognised by management students?

Business Adminis a ion and Managemen 43DOI: 10.15240/ ul/001/2014-1-004 1, XVII, 2014 In oduc ion When e iewing s a egic hinking, we ealize how his phenomenon has gone h ough di e en phases and seman ic con ex s. Wi h a millen- nium dis ancing he wo d om i s o igins, he wo d s a egy has had se e al meanings bu wi hou e e losing i s seman ic oo s. In he beginning, s a egy ook on a mili a y signi icance and ep esen ed he ac ion o commanding o leading a mies in imes o wa , i.e. a mili a y campaign [30]. I mean a way o p e ailing o e he ad e sa y, a ool o ic o y in wa and only a e wa ds was i applied o o he con ex s and ields o human ela ionships: poli ical, economics, business, among o he s, bu always e aining in all i s uses he seman ic oo , o de ine pa hs [76]. A e se e al phases and meanings, he concep o s a egy has e ol ed in o a ield o knowledge in managemen , s a egic mana- gemen , wi h con en , concep s and p ac ical easoning, ending up by ca ing ou i s own ole in he academic and business ields [25]. Managemen uses his old mili a y concep o associa e he ac i i ies o a gene al wi h hose o an o ganiza ion’s manage [76]. Since i ep esen s an impo an ool o business managemen in a compe i i e and u bulen ma ke place, he main objec i e o s a egy in ol es p epa ing he o ganiza ion o con on he cu en hos ile en i onmen , o his end sys ema ically and objec i ely deploying he skills, quali ica ions and in e nal esou ces o he en e p ise [25]. On he o he hand, he concep o s a egy s ill seems o be a e y ague concep and subjec o a ious in e p e a ions [14]. An exac de ini ion o s a egy may no ac ually be undamen al, howe e , wi hin he con ex o o ganiza ional knowledge managemen , speci ically he knowledge ha new p o essionals b ing in o companies, g asping which ype o s a egic unde s anding new manage s b ing in o he o ganiza ion is clea ly o impo ance [15], [58], [74]. Thus, we may ques ion whe he concep s o s a egy and s a egic managemen a e unde s ood by business manage s, especially he younge , he newly g adua ed in managemen . The e o e, his esea ch aims o assess he acqui ed knowledge o uni e si y managemen s uden s ela ing o s a egy and s a egic managemen concep s wi h he pu pose o answe ing he ollowing ques ion: Wha is s a egy and s a egic managemen o u u e manage s? A e hey unde s ood and ecognized? To answe his ques ion, his s udy seeks o examine managemen s uden unde s anding as o he meaning o hese wo concep s. As speci ic objec i es, we seek : (i) o build amodel explaining he de ini ion o s a egy acco ding o he pe cep ions o s uden s g adua ing in managemen , and (ii) o iden i y which concep o s a egic managemen in he exis ing li e a u e comes closes o he pe cep ions o cu en managemen s uden s. To unde s and he pe cep ions o indi i- duals abou a pa icula concep , we adop phenomenog aphy ype esea ch p ac ices. The main ea u e o he esea ch me hod is i s desc ip ion o a phenomenon as i is expe- ienced, emphasizing he collec i e signi icance o he s udied phenomena, and should in no way be con used wi h phenomenological s udies. Phenomenology is a mo e conce ned wi h he indi idual expe ience o he people in ol ed han wi h he phenomena s udied [2]. The s udy is jus i ied due o he shee impo ance o he hemes o s a egy and STRATEGY AND STRATEGIC MANAGEMENT CONCEPTS: ARE THEY RECOGNISED BY MANAGEMENT STUDENTS? Eme son Wagne Maina des, JoãoJ. Fe ei a, Má io L. Raposo EM_01_14_zlom 20.3.2014 8:44 S ánka 43 s a egic managemen o con empo a y o ganiza ions [74]. In his sense, he su ey sough o con ibu e owa ds managemen knowledge in he o ganiza ional en i onmen by cla i ying wha is he eal unde s anding o managemen g adua es on he hemes o s a egy and s a egic managemen . Acco ding o Tseng [83] and Obembe [60], knowledge managemen in an o ganiza ion begins by iden i ying he knowledge ha indi iduals b ing in om ou side he company. In his case, he de elopmen o o ganiza ional s a egy depends on unde s anding he pe cep ions o hei manage s on wha s a egy and s a egic managemen ac ually is. The iden i ica ion o pe cep ions o u u e manage s on he wo concep s, as used in his s udy, con ibu es signi ican ly o o ganiza ional mana- gemen p ac ice. This enables he o ganiza ion’s managemen s a egies as o ganiza ional knowledge on he ield o s a egy can ha dly be managed should each manage unde s and he concep di e en ly. The s udy indings may also be expec ed o con ibu e o Highe Educa ion Ins i u ions (HEI), by iden i ying wha le el o unde s an- ding hei g adua ing managemen s uden s a ain ega ding he subjec s unde analysis. The esea ch con ibu ion also ex ends o he academic wo ld by p esen ing he concep s o s a egy and s a egic managemen mos p esen and ac i e in he minds o u u e manage s, indings a ely encoun e ed in he li e a u e. The e a e ew s udies ela ing s a egy as a heo e ical app oach and i s p ac ical applica ion in o ganiza ions [42], [68]. Thus, his s udy con ibu es o esea ch on s a egy demon- s a ing ha he ield o s a egy, comp ising as i does o se e al concep s and app oaches, gene a es con usion among managemen p ac i ione s. A e all, he same phenomenon is app oached in se e al dis inc ly di e en ways and indi iduals wo king in managemen would also seem o hold a ious pe spec i es, o en unde s anding nei he he eal meaning o s a egy no i s managemen [41], [62]. Fu he mo e, his esea ch aims o p o ide some insigh s o lec u e s bea ing in mind ha s uden opinions and knowledge on his ma e e lec he e iciency and he e ec i eness o he s a egy ela ed lea ning p ocess [31], po en ially e ealing a need o change he didac ics o hese classes. Ano he eason ha led o his s udy was he me hod adop ed, phenomenog aphy, whose main cha ac e is ic is i s abili y o cap u e he pe cep ions o a g oup o people abou a concep . A e an exhaus i e sea ch o a ailable scien i ic da abases, only one s udy o asimila na u e was ound, he Shanahan and Ge be [75] esea ch on he concep o quali y in HEIs, which p o ed he inspi a ion o he esea ch se ou he e. Mos o he o he phenomenog aphy s udies ound deal wi h educa ional eaching me hods [5], [13], [19], [36], [63], [82] o , in ewe cases, he beha iou o consume s [88]. In he ield o s a egy, hey bo h ep esen an inno a ion and a new al e na i e o esea ch. The pape is s uc u ed as ollows: i s ly, ali e a u e e iew o he s a egy and s a egic managemen concep s om a his o ical pe spec i e is ca ied ou . A e wa ds, he phenomenog aphy esea ch is desc ibed and explained. The me hodology adop ed in he su ey is p esen ed in he nex sec ion. Subsequen ly, he collec ed da a a e analysed and ou model is es ed. The a icle ends up wi h inal conside a ions and u u e ecom- menda ions. 1. S a egy and S a egic Managemen : a His o ical Pe spec i e S a egy was c ea ed by he G eeks, who endowed he concep wi h a mili a y conno- a ion. The e m de i es om he G eek s a egos, ansla ed as a gene al in command o oops o he a o he gene al o plan o des oy enemies h ough e ec i e use o esou ces [18], [76], [78]. This e m in i sel con ained he idea o objec i es o be achie ed and plans o ac ion o be pe o med in a ious scena ios, depending on he enemy’s beha iou [73]. Acco ding o Min zbe g and Quinn [53], s a egy was al eady conside ed as an o ga- niza ional skill a he ime o Pe icles (450 BC), meaning managemen skills (adminis a i e, leade ship, public speaking, powe ). Howe e , i was only a e Wo ld Wa II ha s a egy ully en e ed in o he business wo ld, which has since g own signi ican ly and needed guidance, lines and pa hs o be ollowed by hei en i e s uc u es [18]. This g ow h inc eased o gani- za ional complexi y and, oge he wi h he accele a ed pace o en i onmen al changes, Ekonomika a managemen 44 2014, XVII, 1 EM_01_14_zlom 20.3.2014 8:44 S ánka 44 Business Adminis a ion and Managemen 451, XVII, 2014 began equi ing en e p ises deploy g ea e capaci y o c ea e and manage s a egies enabling hem o mee he challenges o he ma ke , eaching hei objec i es in he sho , medium and long e m [25]. Acco ding o Min zbe g [51], i was only in he 1980s ha s a egies unde wen g ea de elopmen wi hin he co po a e en i onmen . Phenomena such as co po a e es uc u ing, join decisions and ac ions impac ing on o ganiza ional size, inancing and po olios [87] we e d i en by he echnological ad ance in means o communica ion and anspo and, since hen, an in e ac i e dynamic and in eg a ion on a global le el ha e become p edominan . Nowadays, hinking s a egically has acqui ed he s a us o an indispensable ac o in leading and managing o ganiza ions, whe he o p o i o o he wise [55]. A e all, s a egy add esses he link be ween he inne wo ld o business and i s ex e nal en i onmen [68]. Conside ing i s impo ance, alking abou s a egy opens up a discussion o heo e ical app oaches, anging om he mo e con en ional, conside ing s a egy as a business logic, a ional and sequen ial [21], o he mos dynamic, ha unde s and his p ocess as associa ed wi h cul u al and lea ning ac o s, poli ics and powe ela ions [54]. Thus, he e a e wo majo p oblems a ec ing he unde s anding o wha he concep o s a egy eally means: con usion be ween s a egy and e ec i eness ools and con usion be ween s a egy and s a egic planning [27], [56], [67]. The oo o he p oblem seems o be he lack o a ull unde s anding as o wha s a egy eally is. 1.1 De ini ions o S a egy As can be seen, s a egy is his o ically linked o p e-emp ing di e en scena ios and ac ion plans o be igge ed on encoun e ing hem [73]. Howe e , he e has ne e been a single and de ini e de ini ion o s a egy. The e m has had se e al meanings, di e en in scale and complexi y [25], [29], [35], which can mean policies, objec i es, ac ics, goals, p og ams, among o he s, in an a emp o exp ess he concep s necessa y o i s de ini ion [51]. Howe e , he concep o s a egy has been used indisc imina ely in he ield o managemen , meaning any hing om a p ecisely o mula ed cou se o ac ion, a posi ioning in a pa icula en i onmen , h ough o he en i e pe sonali y, he soul and exis en ial a ionale behind acompany’s exis ence. I is a concep o en pu o wa d in he academic and business wo lds, illed wi h a g ea di e si y and wid h, which in some aspec s is complemen a y while di e gen in o he s [68]. Acco ding o Fahey [28], he e a e ew wo ds subjec o as many abuses in i s u ilisa ion in en e p ises, as poo ly de ined in managemen li e a u e and exposed o such di e en ac o s as s a egy and hence i is a e m ha causes widesp ead discussions, especially among heo is s. Min zbe g e al. [54] a gue ha s a egy is he enemy o he de e minis ic and mechanis ic app oaches, because hey minimize eedom and choice. S a egy is no only one way o dealing wi h an ad e sa y in a compe i i e en i onmen o ma ke , as ea ed by much o he li e a u e and i s popula use [53], as i canno only summa ize he ideas, p oposals, guidelines, indica i e o pa hs and solu ions [68]. S a egy ins ead has a b ead h and scope ha enci cles he concep o ope a ional e iciency [67] and canno be con used wi h i s ac ics. In o he wo ds, s a egy is no some hing s a ic, inished, which ende s he concep complex and di icul o g asp [25]. This ac has an explana ion. S a egy in o ganiza ions, as a ield o s udy, is much newe han i s cu en p ac ice [69], and i s knowledge emains unde cons uc ion. This can be pe cei ed h ough analysis o he li e a u e e iew displaying se e al di e en de ini ions o s a egy o e ime ( able 1). Conside ing he de ini ions lis ed in Table 1, along wi h he hund eds mo e a ailable, i would appea ha he de ini ion o wha s a egy means is nei he closed no simple o es ablish a consensus on. We canno say any pa icula de ini ion is co ec . Each exis ing de ini ion is co ec bu con ains limi a ions in i s se o assump ions and ela ed dimensions [14]. 1.2 De ini ions o S a egic Managemen Acco ding o Bhalla e al. [14], s a egic managemen was bo n as a hyb id discipline, in luenced by bo h sociology and economics. I may be conside ed an e olu ion o heo ies o o ganiza ions. I only began ecei ing mo e a en ion, om bo h he academic and he business wo lds, in he 1950s, wi h i s EM_01_14_zlom 20.3.2014 8:44 S ánka 45 Ekonomika a managemen 46 2014, XVII, 1 Tab. 1: De ini ions o s a egy in o ganiza ional con ex s (pa 1) Au ho (s) De ini ions o S a egy [10] Ba na d (1938) S a egy is wha ma e s o he e ec i eness o he o ganiza ion, he ex e nal poin o iew, which s esses he ele ance o he objec i es agains he en i onmen , in e ms o in e nal s esses, he balanced communica ion be ween membe s o he o ganiza ion and a willingness o con ibu e owa ds ac ions and he achie emen o common objec i es. [85] on Neumann S a egy is a se ies o ac ions unde aken by a company acco ding o a pa icula si ua ion. & Mo gens e n (1947) [26] D ucke (1954) S a egy is analyzing he p esen si ua ion and changing i whene e necessa y. Inco po a ed wi hin his is inding ou wha one’s esou ces a e o wha hey should be. [21] Chandle (1962) S a egy is he de e minan o he basic long- e m goals o a i m, and he adop ion o cou ses o ac ion and he alloca ion o esou ces necessa y o ca ying ou hese goals. [7] Anso (1965) S a egy is a ule o making decisions de e mined by p oduc /ma ke scope, g ow h ec o , compe i i e ad an age, and syne gy. [49] Min zbe g (1967) S a egy is he addi ion o he decisions aken by an o ganiza ion in all aspec s, as much comme cial as s uc u al, wi h he s a egy de eloping in acco dance wi h he lea ning p ocess o he i m’s manage . [20] Cannon (1968) S a egies a e he di ec ional ac ion decisions which a e compe i i ely equi ed o achie e he company’s pu pose. [43] Lea ned, Ch is ensen, S a egy is he pa e n o objec i es, pu poses, o goals and majo policies and plans o And ews & Gu h (1969) achie ing hese goals, s a ed in such a way as o de ine wha business he company is in o is o be in and he kind o company i is o is o be. [59] Newman & Logan S a egies a e o wa d-looking plans ha an icipa e change and ini ia e ac ion o ake ad an age (1971) o oppo uni ies ha a e in eg a ed in o he concep s o mission o he company. [71] Schendel & Ha en S a egy is he basic goals and objec i es o he o ganiza ion, he majo p og ams o ac ion (1972) chosen o each hese goals and objec i es, and he majo pa e n o esou ce alloca ion used o ela e he o ganiza ion o i s en i onmen . [84] Uy e hoe en, S a egy p o ides bo h di ec ion and cohesion o he en e p ise and is composed o se e al Acke man & Rosenblum s eps: s a egic p o ile, s a egic o ecas , esou ce audi , s a egic al e na i es explo ed, es s (1973) o consis ency and, inally, s a egic choice. [1] Acko (1974) S a egy is conce ned wi h long- ange objec i es and ways o pu suing hem ha a ec he sys em as a whole. [61] Paine & Naumes (1975) S a egies a e mac o-ac ions o pa e ns o ac ions o achie ing he objec i es o he company. [45] McCa hy, Minichiello S a egy is an analysis o he en i onmen whe e he o ganiza ion is loca ed and he selec ion & Cu an (1975) o al e na i es ha will di ec he esou ces and objec i es o he o ganiza ion, aking in o conside a ion he isk and po en ial p o i s, and he easibili y ha each al e na i e o e s. [32] Glueck (1976) S a egy is a uni ied, comp ehensi e, and in eg a ed plan designed o assu e ha he basic objec i es o he en e p ise a e achie ed. [47] Michel (1976) S a egy is o decide which esou ces should be acqui ed and used so hey can ake ad an age o oppo uni ies and minimize ac o s ha h ea en he achie emen o desi ed esul s. [46] McNichols (1977) S a egy is embedded in o policy-making: i con ains a se ies o decisions ha e lec he basic objec i es o he o ganiza ion's business, and how o use he capabili ies and in e nal esou ces o achie e hese objec i es. [78] S eine &Mine (1977) S a egy is he o mula ion o missions, pu poses and basic o ganiza ional goals, policies and p og ams o mee hem, and he me hods needed o ensu e ha s a egies a e implemen ed o achie e o ganiza ional objec i es. EM_01_14_zlom 20.3.2014 8:44 S ánka 46 Business Adminis a ion and Managemen 471, XVII, 2014 Tab. 1: De ini ions o s a egy in o ganiza ional con ex s (pa 2) Au ho (s) De ini ions o S a egy [8] Anso (1979) S a egy is a se o ules o decision making unde condi ions o pa ial igno ance. S a egic decisions conce n he i m's ela ionship wi h i s ecosys em. [50] Min zbe g (1979) S a egy is a media ing o ce be ween he o ganiza ion and i s en i onmen : consis en pa e ns in s eams o o ganiza ional decisions o deal wi h he en i onmen . [72] Schendel &Ho e (1979) S a egy p o ides sugges ed di ec ions o he o ganiza ion, which allows he company o achie e i s objec i es and o espond o oppo uni ies and h ea s in he ex e nal en i onmen . [18] B acke (1980) S a egy has wo cha ac e is ics: si ua ional o en i onmen al analysis ha de e mines he company's posi ion in he ma ke and he p ope use o company esou ces o achie e i s objec i es. [37] Hamb ick (1980) S a egy is he pa e n o decisions ha guide he o ganiza ion in i s ela ionship wi h he en i onmen , a ec he p ocesses and in e nal s uc u es, as well as in luencing he pe o mance o o ganiza ions. [65] Po e (1980) S a egy is he company choice as o key decision a iables such as p ice, p omo ion, quan i y and quali y. The company, o ha e good pe o mance, mus be co ec ly posi ioned in i s indus y. [52] Min zbe g &McHugh S a egy is a pa e n in a chain o ac ions o decisions. I dis espec s he possibili ies o di e en (1985) s a egies o se e al en i onmen condi ions. [66] Po e (1985) S a egy is a se o o ensi e o de ensi e ac ions o c ea e a de ensible posi ion in an indus y, o cope success ully wi h compe i i e o ces and hus ge a highe e u n on in es men . [28] Fahey (1989) S a egy explains how he company will use i s esou ces and capabili ies o build and sus ain he compe i i e ad an ages ha a ou ably in luence cus ome pu chasing decisions. [39] Hende son (1989) S a egy is he ocused use o imagina ion and logic o espond o he en i onmen so ha as a esul i gene a es compe i i e ad an age o he company. [9] Anso & McDonnell (1990) S a egy is a se o ules o decision making o guide he beha iou o an o ganiza ion. The e a e ou dis inc ypes o ules: s anda ds by which he p esen and u u e pe o mance o he company is measu ed (objec i es, a ge s); ules o he de elopmen o ela ionships wi h he ex e nal en i onmen (p oduc s a egy and ma ke ing, o business s a egy), ules o es ablishing ela ions and in e nal p ocesses in he o ganiza ion (o ganiza ional concep ); and ules by which he company shall conduc i s ac i i ies in he day- o-day (ope a ional policies). [6] And ews (1991) S a egy is he pa e n o se lemen in a company ha de e mines and e eals i s objec i es, pu poses o goals, p oduces he p incipal policies and plans o achie e hese a ge s and asce ains he scale o business ha he company should ge in ol ed in, he ype o economic and human o ganiza ion and he na u e o he economic and non-economic bene i s gene a ed o sha eholde s, employees and communi ies. [38] Hende son (1991) S a egy is he delibe a e sea ch o an ac ion plan o de elop and adjus he compe i i e ad an age o a company. The di e ences be ween he o ganiza ion and i s compe i o s a e he basis o i s compe i i e ad an age. [53] Min zbe g & Quinn S a egy is he delibe a e sea ch o an ac ion plan o de elop and adjus he compe i i e (1991) ad an age o a company. The di e ences be ween he o ganiza ion and i s compe i o s a e he basis o i s compe i i e ad an age. [69] Rumel , Schendel S a egy is o de ine he di ec ion o o ganiza ions. This includes issues o p ima y conce n o & Teece (1994) he manage , o any pe son who seeks he easons o success and ailu e be ween o ganiza ions. [81] Thompson & S a egy is a se o compe i i e changes and business app oaches ha manage s pe o m o S ickland III (1995) achie e he bes pe o mance o he company. I is he manage ial plan o enhance he o ganiza ion’s posi ion in he ma ke , boos cus ome sa is ac ion and achie e pe o mance a ge s. EM_01_14_zlom 20.3.2014 8:44 S ánka 47 de elopmen ully unde way in he 1960s and 1970s. Acco ding o Po h [68], s a egic manage- men eme ged as pa o s a egic planning, which is now ega ded as one o i s main ins umen s. I was inco po a ed in o s a egic managemen , which uni ed planning and managemen in he same p ocess. On he o he hand, S ead and S ead [76] s a ed ha s a egic managemen is de i ed om he concep o en e p ise policy. This concep explains he o ganiza ion as a sys em in which economic esou ces a e applied e ec i ely wi h he company’s unc ional ac i i ies coo dina ed a ound gene a ing p o i . Once ounded, s a egic managemen expanded swi ly and p oduced bo h heo e ical and p ac ical models [22]. A b oad ange o models eme ged ou o ma ke analysis in he 1960s, including he BCG Ma ix, SWOT Model, he Expe ience Cu e, and Po olio Analysis, as well as impo an concep s such as he economic analysis o s uc u e, beha iou and pe o mance, dis inc i e compe ences, skills, and he so-called s a egic planning sys ems [29], [54], [77]. Cu en ly, s a egic managemen is one o he mos p ominen and ele an a eas in he managemen ield. I cons i u es a se o ma- nagemen ac ions ha enable company manage s o keep i aligned wi h i s en i onmen and on he co ec pa h o de elopmen , he eby b inging abou he achie emen o i s objec i es and i s mission [25], [40], [56], [79], [17]. Despi e i s impo ance, Boyd e al. demons a e ha s a egic managemen has many a ibu es o a s ill imma u e ield o s udy, wi h li le consensus and low le els o p oduc i i y. This esul u he mo e explains he eason he e a e se e al de ini ions o he same concep . Acco ding o Anso and McDonnell [9], s a egic managemen cons i u es a sys ema ic app oach o he managemen o changes, comp ising: posi ioning he o ganiza ion h ough s a egy and planning, eal ime s a egic esponse h ough he managemen o p oblems, and he sys ema ic managemen o esis ance du ing s a egy implemen a ion. On he o he hand, Po h [68] belie es ha s a egic managemen is de inable as a c oss- p ocess o o mula ion, implemen a ion and e alua ion o he decisions ha enable o ganiza ions o de ine and achie e hei mission and ul ima ely o c ea e alue. Bowman e al. [16] s a egic managemen ocuses on issues conce ning ei he he c ea ion and sus ainabili y o compe i i e ad an age o he sea ch o such an ad an age. Fu he mo e, G an [33] a gued ha s a egic managemen in ol es a complex ela ionship be ween he o ganiza ional ocus, he esul s ob ained, and he b oad spec um o ex e nal and in e nal en i onmen al a iables o he o ganiza ion. Acco ding o Dess e al. [25], s a egic managemen in an o ganiza ion mus become ap ocess and a single pa h guiding ac ions h oughou he o ganiza ion. I consis s o o ganiza ional analysis, decisions and ac ions c ea ing and sus aining compe i i e ad an age. Ekonomika a managemen 48 2014, XVII, 1 Tab. 1: De ini ions o s a egy in o ganiza ional con ex s (pa 3) Au ho (s) De ini ions o S a egy [48] Mille & Dess (1996) S a egy is a se o plans o decisions made in an e o o help o ganiza ions achie e hei objec i es. [67] Po e (1996) S a egy means pe o ming di e en ac i i ies o hose pe o med by i als o pe o ming he same ac i i ies di e en ly. [88] W igh , K oll & Pa nell S a egy is he se o plans om op managemen o achie e esul s consis en wi h he (1997) o ganiza ional mission and objec i es. [54] Min zbe g, Ahls and S a egy is he media ing o ce be ween he o ganiza ion and i s su oundings, ocusing on & Lampel (1998) decisions and ac ions ha come na u ally. S a egy o ma ion is no limi ed o in en ional p ocesses, bu can occu as a pa e n o ac ions o malized o o he wise. [12] Ba ney (2001) S a egy is he heo y o he i m on how o compe e success ully. I also conside s pe o mance as a ac o in luenced by s a egy, as i can be conside ed ha o compe e success ully means ha ing a sa is ac o y pe o mance. Sou ce: own elabo a ion EM_01_14_zlom 20.3.2014 8:44 S ánka 48 Business Adminis a ion and Managemen 491, XVII, 2014 These au ho s de ine ou key a ibu es o s a egic managemen : di ec ed owa ds he o e all o ganiza ion objec i es, includes mul iple s akeholde s in decision-making, equi es inco po a ing sho and long e m pe spec i es and, in ol es he ecogni ion o ade-o s be ween e ec i eness and e iciency. S ead and S ead [76], in u n, de ined s a egic managemen as an ongoing p ocess in ol ing he e o s o s a egic manage s o adjus he o ganiza ion o he en i onmen in which i ope a es while de eloping compe i i e ad an ages. These compe i i e ad an ages enable he company o seize oppo uni ies and minimize en i onmen al h ea s. Mo e gene ally, s a egic managemen is ab oad e m ha includes de e mining he mission and objec i e o he o ganiza ion in he con ex o i s ex e nal and in e nal en i onmen s. 2. Phenomenog aphy Phenomenog aphy is a ela i ely new app oach o scien i ic esea ch wi h he i s published a icles appea ing a he beginning o he 1980s [44]. This app oach seeks o quali a i ely desc ibe he di e en o ms by which people expe ience, concep ualize, pe cei e, and unde s and se e al aspec s o a pa icula phenomenon. This implies ha phenomeno- g aphy is no conce ned only abou he pheno- mena unde esea ch, no , indeed, exclusi ely wi h he people expe iencing hem. On he con a y, i ocuses upon he ela ionship be ween hem, i.e., he ways in which people expe ience o hink abou he espec i e phenomenon [23]. Hence, a phenomenog aphic s udy aims o desc ibe he a ia ion in how ade e mined phenomenon ( o example, aconcep ) is unde s ood, expe ienced o pe cei ed by a g oup o people [13]. Aphenomenog aphic me hod a gues ha indi iduals pe cei e he wo ld in di e en o ms as expe ience is always only e e pa ial. A any poin , ime, and con ex , people disce n and expe ience di e en aspec s o any phenomenon o di e en deg ees and ex en s [19]. Thus, di e en o ms o li ing a phenomenon can be unde s ood in e ms o which aspec s o he phenomenon a e pe cei ed [4]. The e o e, he ocus o his ype o esea ch is on essen ial aspec s o he collec i e and a ia ion o expe ience, mo e han he weal h o indi idual expe iences, leading o a limi ed numbe o quali a i ely di e en ca ego ies in he desc ip ion o he in es iga ed phenomenon [82]. Thus, acco ding o he ules o phenomenog aphy, he di e en ways o li ing a phenomenon a e no cons i u ed o independen o ms, bu a he mu ually in e ela ed [63]. These di e en ways a e o de ed in e ms o conscience inclusi i y, wi hin which mo e inclusi e o ms also ep esen mo e complex o ms o expe iencing he phenomenon indica ed o e e g ea e ampli ude o knowledge on he phenomenon’s di e en aspec s. In o he wo ds, an inc easing numbe o aspec s o he phenomenon a e pe cei ed as po en ially di e en [4] a icula ing in e nal logical ela ionships be ween di e en o ms o li ing and expe iencing such aphenomenon [82]. T adi ionally, he objec o phenomeno- g aphy esea ch s udy has been desc ibed as a ia ions in he human sensing and unde s anding o concep ions [44] o , mo e ecen ly, conscience o ways o es ing a de e mined phenomenon [87]. The esul s a e analy ically ep esen ed as a se ies o meanings (quali a- i ely di e en ) o e en some ways o es ing aphenomenon, called “ca ego ies” in o de o dis inguish be ween empi ically in e p e ed ca ego ies and he hypo he ical expe ience hey ep esen , including also he s uc u al ela ionships ha connec hese di e en o ms o es ing. These ela ions p o ide a b ie ing on he ela ions be ween di e en ways o expe iencing a phenomenon [4]. The ocus o phenomenog aphy esea ch on he collec i e expe ience (and no he indi idual) is usually misunde s ood and dese es cla i ica ion. Ma on [44] ad ises on de ini ions o he di e se o ms o unde s an- ding eali y. Acco ding o his au ho , hese pe spec i es a e no concei ed by phenomeno- g aphy as indi idual pe cep ions bu a he as ca ego ies ha depic a collec i e concep ion o aphenomenon. Tha is, phenomenog aphy esea ch aims o explo e gamma meanings wi hin a g oup as a g oup, and no he gamma meanings o each indi idual wi hin he g oup [70]. Fu he mo e, S ensson [80] a gues ha he a ie ies o o ms by which people es hese phenomena a e e e ed o as ag eemen s and suscep ible o p esen a ion as desc ip ion ca ego ies o he phenomenon in ques ion. These ca ego ies es ablish he base o de eloping a hie a chy o ag eemen s, EM_01_14_zlom 20.3.2014 8:44 S ánka 49 hemsel es o ming a model ha desc ibes he phenomenon in i s o ali y. This model con ains ase o ca ego ies hie a chically s uc u alized a ound he phenomenon unde s udy [36]. Consequen ly, he esea che aims a cons i- u ing a logical s uc u e ela i e o di e en meanings. The ca ego ies cons i u ed by esea che s o ep esen ing he di e en o ms o li ing a phenomenon a e seen as ep esen ing as uc u alized se – he model. This p o ides ameans o g asping he collec i e human expe ience o he holis ic phenomena despi e he ac he same phenomenon can be pe cei ed in di e en o ms by di e en people and in di e en ci cums ances. Ideally, he esul s ep esen all he gamma o possible o ms o li ing a speci ic phenomenon, in aspeci ic ime, o he popula ion collec i ely ep esen ed by he g oup [4]. In p ac ical e ms, phenomenog aphy has p o en e icien when deployed o wi ness decisions on educa ion p og ams and applied in wo dis inc o ms [4]: (i) o iden i y a a ia ion in he ag eemen on one de e mined concep (in ol ing he iden i ica ion o he main cha ac e is ics o concep s ha alumni do o do no ob ain o disce n hei unde s anding o he phenomenon); and (ii) o p ojec an educa ion p og am ha maximizes alumni oppo uni ies o gain a ull unde s anding o a concep based on ap io e alua ion o knowledge on he phenomenon. Co espondingly, we app oach phenomenog aphy as a esea ch me hod ha ocuses on concep s explaining phenomena as li ed by indi iduals and o alue in p ac ically all educa ional a eas [5]. 3. Me hodology In acco dance wi h he p inciples o phenome- nog aphy ( he collec i e analysis o indi idual expe iences), p oposed by Ma on [44], desc ibed in he in oduc ion o his s udy and he me hodological decisions made explici in he wo k o Shanahan and Ge be [75], his esea ch p ojec adop ed he phenomenog aphic me hodology. This is cha ac e ized as quali a i e, explo a o y and c oss-sec ional [34], wi h da a collec ion ca ied ou by pe sonal in e iews wi h s uc u ed ques ionnai es. All me hodological decisions desc ibed in he sequence (uni e se and sample esea ch, collec ion and analysis o da a) we e adap ed om he s udy o Shanahan and Ge be [70]. Howe e s udies on he ield o educa ion [5], [13], [19], [36], [63], [82] and on consume beha iou [87] also played hei ole in he me hodological decisions aken o e he cou se o his esea ch p ojec . To a ain ou s udy objec i es, we examined s uden s aking deg ees in managemen a public uni e si ies in Po ugal. Thei cu icula p og ams ea u e s a egy and/o s a egic managemen subjec s. The choice o Po uguese public uni e si ies de i es om he ac ha hey ep esen abou 60% o highe educa ion s uden s in Po ugal [64]. All hi een uni e si ies we e in i ed o pa icipa e. O hese, i e uni e si ies exp essed in e es : Uni e si y o Bei a In e io (UBI), Uni e si y o Coimb a (UC), Uni e si y o É o a (UE), Uni e si y o Minho (UM), and Uni e si y o Po o (UP). The ques ionnai es we e sen o hese uni e si ies and hen comple ed in he class oom and e u ned comple ed o he esea che s. The choice o his a ge g oup de i ed om hei being on he e ge o g adua ion and in a ew mon hs will become he younges manage s in he Po uguese ma ke . This means hey migh be expec ed o be he managemen p o essionals wi h he mos up- o-da e knowledge on he issues in ol ing o ganiza ional managemen , including s a egy and s a egic managemen . The sample ga he ed ocuses on he s uden s p esen in class ooms on he days o he applica ion o he esea ch ques ionnai e and ha had been passed app o ed in hese subjec s. This ype o sample appea s as non- p obabilis ic, in en ional, o ial [34]. I should be no ed ha he esul s p esen ed he e ep esen only a p opo ion o managemen s uden s in Po ugal. To achie e a b oade ep esen a ion o Po uguese managemen s uden s, i would be necessa y o apply he same esea ch in o he uni e si ies. Fo he pu poses o da a collec ion, we deployed a ques ionnai e wi h six open ques ions, which aimed o iden i y esponden pe cep ions as o hei own de ini ions o s a egy and s a egic managemen . The inal ques ionnai e was he ollowing: 1. Based on you own expe ience, wha does s a egy mean o you? 2. Using you own wo ds, wha is you de ini ion o s a egy? 3. Acco ding o you poin o iew, gi e a leas h ee examples o s a egies. Ekonomika a managemen 50 2014, XVII, 1 EM_01_14_zlom 20.3.2014 8:44 S ánka 50 Business Adminis a ion and Managemen 511, XVII, 2014 4. Quo e means o applying you concep o business s a egy. 5. Wha he meaning o s a egic managemen ? Gi e examples. 6. Explain wha i means o s a egic managemen . How can you apply his concep in o ganiza ions? Signi ican ly, each subjec s udied is linked o wo ques ions (de ini ion o s a egy, examples o s a egies, and de ini ion and examples o s a egic managemen ). This is he main ea u e o he phenomenog aphy me hod and aims o make he in e iewee hink mo e p ecisely abou wha his/he eal insigh is on he phenomenon s udied [2], [3], [4]. Da a collec ion was ca ied ou du ing he pe iod be ween Ap il and June 2009. A e he applica ion o esea ch ools, he same, duly comple ed, we e e u ned o he esea che s who hen conduc ed an ini ial ques ionnai e assessmen : UBI (42 comple ed ques ionnai es wi h 38 conside ed alid); UC (29 comple ed ques ionnai es wi h 28 alid); UE (25 ques ion- nai es e u ned, all alid); UM (o 48 comple ed ques ionnai es, 33 p o ed alid); and UP (22 ques ionnai es e u ned, all alid). In sum, 166 ques ionnai es we e comple ed, and 146 we e alida ed and inco po a ed in o he analy ical p ocess. The nex s ep was o ans e he da a collec ed o so wa e analysis. Wi h all answe s in digi al o ma , con en analysis was used o da a analysis aiming o iden i y de ini ions o s a egy and s a egic managemen h ough coding [24], wi h he aid o he A las/ i so wa e [57].This ype o analysis sea ches o egula i ies and a iabili y based on eplica ions o obse a ions o s a emen s en ailing he quan i ica ion o quali a i e da a [24]. In his case, he codes we e ini ially es ablished by he wo ds mos common in he de ini ions o s a egy and s a egic managemen , as well as he ypes o s a egy and s a egic managemen ci ed by he s uden s. Wi h he da a en e ed in o he A las/Ti so wa e, he codes we e also inse ed in o he sys em. This g ouped in e iewee s a emen s on egula i ies and simila i ies acco ding o he es ablished coding. This mean we we e able o collec i ely handle and p ocess he in e iews he eby esul ing in a anking o codes p esen in he da a collec ed om he esponden s ( om he mos p esen o he leas p esen ). 4. Resul s Analysis The beginning o he ques ionnai e asked only wo pe sonal ques ions o esponden s: age and gende . The age o esponden s anged om 20 o 54 yea s, wi h he a e age age o 22.2, wi h abou 74% o esponden s less han 24 yea s old. This means ha he majo i y o u u e manage s en e ing he ma ke in he coming mon hs ha e li le o no expe ience and basically ely on he knowledge acqui ed a uni e si y. This u he jus i ies he impo ance o his esea ch as i pu s o wa d an unde s anding o he ela ionship ha s uden s make be ween he heo y lea ned and he p ac ices hey a e o unde ake hus enabling he highe educa ion ins i u ion (HEI) o ailo hei deg ees o ma ke necessi ies. Wi h ega d o gende , he esea ch in ol ed 81 men and 65 women, which p o ed o bea no signi ican ele ance o he answe s e u ned. Conside ing he ques ionnai e esponses, we need o make one commen be o e p esen ing he da a analyzed. Thus, in he i s wo ques ions, which co espond o he concep o s a egy, mos esponden s ga e de ailed answe s, illing all he spaces o each ques ion. This allowed mo e de ailed analysis on he unde s anding o he s a egy concep held by managemen s uden s. Conce ning he ques ions dealing wi h ypes o s a egies (ques ions 3 and 4) and he concep and ypes o s a egic managemen (ques ions 5 and 6), he same esponden s we e oo gene al and objec i e in hei esponses, which did no allow as ho ough analysis as ha on he s a egy concep . The i s wo ques ions deal wi h he pe sonal unde s anding o each esponden on he subjec o s a egy. None o hose in e iewed ci ed s a egy ou side he ield o managemen . The e we e no e e ences o mili a y s a egies, policies, among o he s. This demons a es ha he opic discussed cu en ly en e s he ield o managemen , a leas among hese ep esen a i es o u u e o ganiza ional manage s. Acco ding o esponden s, s a egy holds di e en conno a ions (Table 2). EM_01_14_zlom 20.3.2014 8:44 S ánka 51 me hods. New Je sey: John Wiley & Sons, 2003. ISBN 04-7127-136-5. [35] HÄKANSSON, H. and SNEHOTA, I. No business is an island: The ne wo k concep o business s a egy. Scandina ian Jou nal o Managemen . 2006, Vol. 22, Iss. 3, pp. 256-270. 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New Je sey: P en ice-Hall, 1997. ISBN 01-3681-750-5. [88] WRIGHT, A., MURRAY, J. and GEALE, P. Aphenomenog aphic s udy o wha i means o supe ise doc o al s uden s. Academy o Mana- gemen Lea ning & Educa ion. 2007, Vol. 6, Iss. 4, pp. 458-474. ISSN 1537-260X. Eme son Wagne Maina des, Ph.D. FUCAPE Business School Managemen Depa men and NECE – Resea ch Cen e in Business Sciences [email p o ec ed] JoãoJ. Fe ei a, Ph.D. Uni e si y o Bei a In e io Managemen and Economics Depa men and NECE – Resea ch Cen e in Business Sciences [email p o ec ed] Ma io L. Raposo, Ph.D. Uni e si y o Bei a In e io Managemen and Economics Depa men and NECE – Resea ch Cen e in Business Sciences [email p o ec ed] Ekonomika a managemen 60 2014, XVII, 1 EM_01_14_zlom 20.3.2014 8:44 S ánka 60 Business Adminis a ion and Managemen 611, XVII, 2014 Abs ac STRATEGY AND STRATEGIC MANAGEMENT CONCEPTS: ARE THEY RECOGNISED BY MANAGEMENT STUDENTS? Eme son Wagne Maina des, JoãoJ. Fe ei a, Má io L. Raposo The pu pose o his pape is o assess he acqui ed knowledge o uni e si y managemen s uden s on s a egy and s a egic managemen concep s. Phenomenog aphy was used in he analysis and acollec i e desc ip ion was conduc ed. A sample o s uden s aking managemen deg ees a i e uni e si ies was adop ed. Following da a analysis, a model explaining ou de ini ion o s uden s is p esen ed. This de ini ion was compa ed wi h he exis ing li e a u e. Ou indings do no indica e asingle, p edominan concep bu e lec a di e se se o exis ing concep s. We conclude ha s uden s do p esen di icul ies when i comes o explaining hei heo e ical de ini ion in eal si ua ions applied o o ganiza ions. The esul s con ibu e owa ds a be e unde s anding o he uni e si ies su eyed, bu canno be gene alized. Thus, we ecommend u u e s udies eplica e his esea ch p ojec a o he Highe Educa ion Ins i u ions and con i m he ac o s making up he cons uc ion o he de ini ion o s a egy om he pe spec i e o u u e manage s. Gi en ha opics ela ing o s a egy and s a egic managemen a e highly ele an o o ganiza ions oday, i is o simila g ea impo ance o iden i ying jus wha u u e manage s pe cei e abou hese issues. Ou model explains he de ini ion o s a egy in he ision o young manage s abou o en e he ma ke . Abalance be ween he cu en schools o hough on s a egy and an app oach o he eali y o en e p ises a e p esen ed as challenges o bo h eache s and esea che s in his ield. Key Wo ds: S a egy, managemen , s a egic managemen , concep s, managemen s uden s, phenomenog aphy. JEL Classi ica ion: A23, L10, M00, M10. DOI: 10.15240/ ul/001/2014-1-004 EM_01_14_zlom 20.3.2014 8:44 S ánka 61