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Fred R. David
Organizing Themes
Global considerations impact virtually all strategic decisions. E-commerce has become a vital strategic management tool. The natural environment has become an important strategic issue.
Ch. 1-2 2001 Prentice Hall
Art and science of formulating, implementing, and evaluating crossfunctional decisions that enable an organization to achieve its objectives.
www.strategyclub.com
Terminology
Strategic Management Synonymous with Strategic Planning
Strategic management
Used more often in academia
Strategic planning
Used more often in the business world
Ch. 1-5 2001 Prentice Hall
Terminology
Strategic management
Refers to:
Strategy formulation Strategy implementation Strategy evaluation
Strategic planning
Refers to:
Strategy formulation
Ch. 1-6 2001 Prentice Hall
Brief History
1950s
Term strategic planning originates
Brief History
1980s
Strategic planning cast aside
Planning models did not yield higher returns
1990s2000
Revival of strategic planning
Widely practiced in business world
Strategy Formulation
Vision & Mission Opportunities & Threats Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection
Ch. 1-10 2001 Prentice Hall
Strategy Implementation
Annual Objectives
Policies
Motivate Employees
Resource Allocation
Ch. 1-11 2001 Prentice Hall
Strategy Evaluation
Measure Performance
Corrective Action
(CEO)
Help organization gather, analyze, and organize information Track industry and competitive trends
become?
Organizations strive to pursue strategies that capitalize on strengths and improve weaknesses
Ch. 1-20 2001 Prentice Hall
realized
Represent the basis for allocating resources Established at corporate, divisional, and functional levels
Chapter 3
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 2
Internal Audit
Chapter 4
Principal Benefit
Formulate better strategies
Systematic, logical, and rational approach
Communication
Key to successful strategic management
Ch. 1-28 2001 Prentice Hall
Good business ethics is a prerequisite for good strategic management Good ethics is just good business!
Ch. 1-35 2001 Prentice Hall
Foreign-based competitors
Strengths underestimated Weaknesses overestimated
Ch. 1-41 2001 Prentice Hall