David Sm14 Ppt 01 Chap01

Chapter 1

The Nature of Strategic Management

Strategic Management:
Concepts & Cases
14th Edition
Fred David

Copyright © 2013 Pearson Education, Inc.
Publishing as Prentice Hall

Ch 1 -1

Learning Outcomes
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Describe the strategic-management process
Discuss the three stages in strategic management process (strategy formulation, implementation and evaluation activities)
Explain the need for integrating analysis and intuition in strategic management
Define the key terms in strategic management
Discuss the benefits of strategic management
Explain why some firms do not engaged in strategic planning Effective Strategic Planning
Comparing Business and Military Strategy
Copyright © 2013 Pearson Education, Inc.
Publishing as Prentice Hall

Ch 1 -2

1. The Strategic Management Process
Strategic Management – Defined

Art & science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives

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Publishing as Prentice Hall

Ch 1 -3

1. The Strategic Management Process
Purpose of Strategic Management

To exploit and create new and different opportunities for tomorrow

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Publishing as Prentice Hall

Ch 1 -4

1. The Strategic Management Process

In essence, the strategic plan is a company’s game plan

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Publishing as Prentice Hall

Ch 1 -5

1. The Strategic Management Process

 Strategic

Management Process
 Dynamic & continuous
 More formal in larger organizations Copyright © 2013 Pearson Education, Inc.
Publishing as Prentice Hall

Ch 1 -6

1. The Strategic Management Process

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Communication is a key to successful strategic management

Copyright © 2013 Pearson Education, Inc.
Publishing as Prentice Hall

Ch 1 -7

2. Three Stages of the Strategic
Management Process
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Strategy formulation

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Strategy implementation

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Strategy evaluation
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