Strategic Management is the theory and practice of making decisions that shape the future of the firm. This course looks at the content and process of strategic decision making from the perspective of managers who are responsible for an entire business unit. These may be individuals who are acting in the capacity of a Chief Executive of a company, divisional General Managers, or departmental heads. It is also the perspective most often expected of students of management, who may be expected to deal with business situations from a wide range of perspectives as well as those involved in family owned businesses. The course will make it possible for students to:…
Strategic thinkers draw upon the past, understand the present, and can envision a better future…
In this paper I will discuss Macy’s Incorporated by analyzing their business level strategies to determine which I think is the most important to their long term success and if I think it is a good choice. I will analyze their corporate level strategies to determine which I think is the most important and whether or not I believe it is a good choice. I will analyze the competitive environment to determine the corporations’ most significant competitor and compare the two companies’ strategies at each level and evaluate which company I think is most likely to succeed in the long term. Once the comparison is done I will then determine whether my choice would be different in a slow cycle market or a fast cycle market.…
Scripts. Wall Street Journal (Eastern Edition), p. A.4. Retrieved November 9, 2008, from Wall Street Journal database…
First we have Strategic Thinking, which means that you have to think big or outside the box. You have to step back and take a look at the big picture some times and just watch what is going on. Then you can see where the work is going good and where you need to work on a problem.…
The Compromise of 1877 marked the dawn of a new era in American History. Most events after the compromise, decades down the road, are direct results of the compromise. Specifically blacks were most affected by this. Rights they were promised when they fought with the north in the civil war were gone. The rights were not taken away per say, but simply not enforced. The compromise that most likely saved the nation from breaking back into civil war had a snowball effect on the lives of everybody after it was made.…
Wright P, M. Kroll, & Parnell J. A. Strategic Management: Concepts. Upper Saddle River, NJ: Prentice Hall, 1998.…
Brief participant introduction 5 mins Module 1: An introduction to strategy and leadership 10 mins Module 2: Understanding the external environment 30 mins Module 3: Understanding the internal environment 30 mins Conclusion: Final question and answer session 15 mins Total 4 Key Concepts and Models – Webinar 1 1.5 hours Module 1: An introduction to strategy and leadership 5 Key Concepts and Models – Webinar 1 Strategy approaches + Rational approach: Conception and execution of strategy are discrete, sequential activities + Processual approach: Strategy is formed incrementally as a ‘pattern in a stream of decisions’ + Evolutionary approach: Market forces determine the survival or failure of organisations + Systemic approach: Strategy is embedded in the cultural values, norms and rules of the organisation and society in which it operates + Other: Fuzzy 6 Key Concepts and Models – Webinar 1 Strategic planning process 7 Key Concepts and Models – Webinar 1 Strategic thinking, planning, fit and stretch…
2. Your findings and connections that you make (What seems particularly true or sensible to you as you read, and why you think so? Does this article connect in any ways to: course lecture content and other readings in this course, prior knowledge?)…
References: Coulter, M. (2013). Strategic management in action. (6th ed.). Upper Saddle River, N.J.: Pearson Education, Inc.…
Strategic management involves environmental scanning. Externally one must know the organization’s opportunities and threats as well as societal environment and task environment including analysis of the industry. Internally one must know the organization’s strengths and weaknesses, the organizational structure including chain of command and organizational culture including the mission statement, beliefs, expectations, and values. Other than knowing the internal and external environment of the company, knowledge of the company’s assets, skills, competencies, capital, and human resources are essential considerations when designing a strategic plan. These components are used throughout the four phases of strategic management are basic financial planning, forecast-based planning, externally oriented (strategic) planning, and strategic management.…
The authors adopted the current views of strategy and identified strategic thinking in action and the knowledge required to perform effective strategic thinking. The article emphasizes that each individual have different learning styles, habits, practices and display the importance of team structure.…
After a series of study on other works on strategic thinking, and based on other literature on strategy, cognition and adult learning, the authors came to this conclusion that “Strategic thinking is an individual activity undertaken to benefit organizations: we have adopted an emergent view of strategy and identified four major activities as strategic thinking in action: Scanning, questioning, conceptualizing and testing. The knowledge required to perform effective strategic thinking is factual, procedural, conceptual and self-knowledge” (Casey and Goldman, 2010).…
Strategic thinking is an essential leadership skill. Our learning team has learned to consider our current decision-making strategies, and examine our options for choosing the best strategy for any situation be it one-sided, compromise, collaboration and deciding-by-majority rule.…
The assessment’s accuracy of strategic thinking does not accurately represent my application of this skill. The assessment focused on this from an organizational perspective versus an individual perspective; nonetheless, I believe strategic thinking is important to the decision-making and problem solving.…