文档介绍：The Nature of Strategic Management Chapter 1 Business Policy and Strategy
The Nature of Strategic Management
Chapter 1
Business Policy and Strategy (BADM 482)
The Nature of Strategic Management
If a man takes no thought about what is distant, he will find sorrow near at hand1>. He who will not worry about what is far off will soon find something worse than worry.
Confucius
Strategic Management Themes
Global considerations impact virtually all strategic decisions.
merce (merce) has e a vital strategic management tool.
The has transferred power from businesses to individuals.
The has changed the very nature and core of buying and selling in nearly all industries.
The natural environment has e an important strategic issue.
What is Strategic Management?
Strategic management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable anization to achieve its objectives.
Strategic management focuses on integrating
management
marketing
finance/accounting
production/operations
research and development (R & D)
computer information systems.
What is Strategic Management?
Strategic management can also be defined as consisting of the analysis, decisions, and actions anization undertakes in order to create and petitive advantages.
The purpose of strategic management is to exploit and create new and different opportunities for tomorrow.
Stages of Strategic Management
The strategic management process consists of three stages:
Strategy Formulation
(create)
Strategy Implementation
(do)
Strategy Evaluation
(monitor)
Stages of Strategic Management
Strategy formulation includes:
Developing a vision and mission.
Identifying anization’s external
opportunities and threats.
Determining internal strengths and
weaknesses.
Establishing long-term objectives.
Generating alternative strategies.
Choosing particular strategies to pursue.
Stages of Strategic Management
Strate