Strama Article

The Nature of



Chapter 1

Chapter Aims

1 .

2 .



Describe the strategic-management process.

Explain the advantages of integrating analysis and

pure intuition in tactical management.

Establish and give examples of key terms in

strategic management.

Discuss the size of strategy formulation,

implementation, and evaluation actions.

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Chapter Targets (cont. )




Describe the benefits of great strategic


Discuss the relevance of Sun Tzu's The Art of

War to strategic management.

Go over how a company may attain sustained

competitive advantage.

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Understanding Strategic Managing

 Strategic management

 the fine art and scientific research of formulating,

implementing, and evaluating crossfunctional decisions that enable a business to achieve it is objectives

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Determining Strategic Management

 Strategic management is employed

synonymously together with the term strategic


 Sometimes the term strategic

supervision is used to relate to approach

formulation, rendering, and

analysis, with ideal planning

referring only to strategy formulation.

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Identifying Strategic Managing

 An organized plan is actually a company's video game


 A strategic strategy results from hard

managerial selections among many

good alternatives, and this signals

commitment to specific markets, guidelines,

procedures, and operations.

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Phases of Strategic Management

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Levels of Proper Management

 Strategy formula

 involves developing a vision and objective,

identifying an organization's exterior

opportunities and threats, determining

internal abilities and failings,

establishing long term objectives, making

alternative strategies, and deciding on particular

ways to pursue

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Approach Formulation

 Deciding what new businesses to,

 What businesses to abandon,

 How to set aside resources,

 Whether to expand procedures or


 If to enter international markets,

 Whether to merge or perhaps form a joint venture,

 How to avoid a hostile takeover.

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Stages of Strategic Management

 Technique implementation

 requires a organization to establish annual objectives,

develop policies, encourage employees, and

allocate resources so that developed

strategies could be executed

 often called the action level

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Stages of Strategic Managing

 Approach evaluation

 reviewing exterior and inside factors that

are the basics for current strategies,

calculating performance, and taking

further actions

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Phases of Tactical Management

 Strategy ingredients, implementation,

and evaluation actions occur for three

hierarchical levels within a large organization:

corporate, divisional or strategic business

device, and functional

 Tactical management allows a firm

function as a competitive team

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Integrating Pure intuition and Analysis

 The majority of organizations can benefit from

strategic supervision, which is based

upon including intuition and analysis in

decision making

 Intuition is particularly useful for producing

decisions in case of of great

uncertainness or little precedent

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Adult Education is very important Article