Create a 9 pages page paper that discusses inside-out and outside-in schools of strategic management. It is important that managers think widely and wisely to ensure a sustainable competitive advantage. Based on the statement made by the researcher, it can be argued that to achieve a competitive benefit, organizational strategies have to be consistent with the internal as well as external environment. A concise literature review on strategic management explicates two primary themes that nurture inside-out and outside-in perspectives also referred to as the prescriptive school (Dutton, 1983) and descriptive school (Bertin, 2000). This essay explores the theoretical bases of these two strategic management approaches often used in contemporary business processes. The ultimate aim of this study is accordingly concentrated on the implications of the underpinnings suggested in these approaches in deriving organisational success in today’s unconventional scenario, where managerial operations are somewhat impossible to be bound within a defined framework. Theoretical explanation Inside-Out Schools of Strategic Management Barner (2006) elaborates that the inside-out approach of strategic management can be viewed as sensible characterisation of strategies in an organization where internal capabilities and strengths can be identified and developed (Barner, 2006). To put it in simple words, it can be affirmed that the inside-out approach initiates with a focus on a company’s internal capabilities and strengths. It commences with reviewing and assessing the qualities of individual resources sources by the organisation and its managerial understanding of growth needs. This approach then gradually expands outwards at inter-department or organisational levels, having belief on the notion that it is the inherent qualities of individuals (also can be signified as organisational management) to impose considerable impacts on their interpersonal relationships within the team and eventually within the organization. With this approach, organisations are able to take into consideration their resources and endeavour at using those with more efficiency. Considering from a general point of view, the inside-out approach is based on the fact that if someone meaningfully wants to contribute to team members, it is important for the individuals (or organisations) to understand their personal strengths as well as weaknesses accurately (Johnson & et. al., 2002). As a matter of fact, it can be affirmed that an organization can never be able to deliver the highest performance until and unless it is able to develop a commendable level of effectiveness of its resources, especially concerning its human resources. With respect to this perspective, the organization stretching its resources as well as capabilities to achieve a competitive advantage can produce new opportunities of growth, as assumed in this strategic management approach (Johnson & et. al. 2002). However, it is important to note that resources and capabilities can prove as a threat if the organization cannot handle and maintain the resources properly and deep-root to changes required in a cost-efficient and time-effective manner (Thompson & et. al., 2005).
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