Classical Approach to Strategy Literature Review

The classical approach is influenced by the military tradition, because there the decisions are finalized by the solitary general and so here the world is viewed as a rigid hierarchy. The “intellectual inheritance” of the economics has complemented the military tradition. Later, in 1994 Von Neumann and Morgernstern sited this tradition at the heart at the strategy beginning and viewed this as a game that is elaborated between the interdependent businesses that are competing with one another with “move, bluff, counter move and counter bluff. The managers become confident in adopting the strategies that increase the profit of the company with balanced plans that can be used for  the long term with this classical approach of strategy. Particularly, the confidence in terms of capacity and enthusiasm of the manager is developed.