Schools of Thought in Strategic Management

Schools of thought in strategic management are different approaches for understanding and guiding how organizations plan and compete. They include the Classical School, which emphasizes structured planning and top-down decision-making; the Resource-Based View, focusing on leveraging unique internal strengths for competitive advantage; the Positioning School, emphasizing the importance of selecting ideal market positions; and the Dynamic Capabilities School, highlighting the need to adapt and innovate continuously. Each offers a unique perspective on how organizations formulate strategies to succeed in changing environments, reflecting different theories about what drives competitive advantage.