Nature of Strategic Management
Fred R. David
"Strategic Management. Concepts and Cases", 9th edition, Pearson Education, Inc., 2003
ISBN 0-13-112372-6
Chapter 1: S.N. Levine, The Investment Managers Handbook, Irwin Professional Publishing
CHAPTER OUTLINE
What Is Strategic Management?
Key Terms in Strategic Management
The Strategic-Management Model
Benefits of Strategic Management
Why Some Firms Do No Strategic Planning
Pitfalls in Strategic Planning
Guidelines for Effective Strategic Management
Business Ethics and Strategic Management
Comparing Business and Military Strategy
The Nature of Global Competition
CHAPTER OBJECTIVES
After studying this chapter, you should be able to do the following:
1. Describe the strategic-management process.
2. Explain the need for integrating analysis and intuition in strategic management.
3. Define and give examples of key terms in strategic management.
4. Discuss the nature of strategy formulation, implementation, and evaluation activities.
5. Describe the benefits of good strategic management.
6. Explain why good ethics is good business in strategic management.
7. Explain the advantages and disadvantages of entering global markets.
8. Discuss the relevance of Sun Tzu's The Art of War to strategic management.
Notable Quotes
If we know where we are and something about how we got there, we might see where we are trending—and if the outcomes which lie naturally in out course ate unacceptable, to make timely change.
ABRAHAM LINCOLN
Without a strategy, an organization is like a ship without a rudder, going around in circles. It's like a tramp; it has no place to go.
JOEL ROSS AND MICHAEL KAMI
Plans are less important than planning.
DALE McCONKEY
The formulation of strategy can develop competitive advantage only to the extent that the process can give meaning to workers in the trenches.
DAVID HURST
Most of us fear change. Even when our minds say change is normal, our stomachs quiver at the prospect. But for strategists and managers today, there is no
"Strategic Management. Concepts and Cases", 9th edition, Pearson Education, Inc., 2003
ISBN 0-13-112372-6
Chapter 1: S.N. Levine, The Investment Managers Handbook, Irwin Professional Publishing
CHAPTER OUTLINE
What Is Strategic Management?
Key Terms in Strategic Management
The Strategic-Management Model
Benefits of Strategic Management
Why Some Firms Do No Strategic Planning
Pitfalls in Strategic Planning
Guidelines for Effective Strategic Management
Business Ethics and Strategic Management
Comparing Business and Military Strategy
The Nature of Global Competition
CHAPTER OBJECTIVES
After studying this chapter, you should be able to do the following:
1. Describe the strategic-management process.
2. Explain the need for integrating analysis and intuition in strategic management.
3. Define and give examples of key terms in strategic management.
4. Discuss the nature of strategy formulation, implementation, and evaluation activities.
5. Describe the benefits of good strategic management.
6. Explain why good ethics is good business in strategic management.
7. Explain the advantages and disadvantages of entering global markets.
8. Discuss the relevance of Sun Tzu's The Art of War to strategic management.
Notable Quotes
If we know where we are and something about how we got there, we might see where we are trending—and if the outcomes which lie naturally in out course ate unacceptable, to make timely change.
ABRAHAM LINCOLN
Without a strategy, an organization is like a ship without a rudder, going around in circles. It's like a tramp; it has no place to go.
JOEL ROSS AND MICHAEL KAMI
Plans are less important than planning.
DALE McCONKEY
The formulation of strategy can develop competitive advantage only to the extent that the process can give meaning to workers in the trenches.
DAVID HURST
Most of us fear change. Even when our minds say change is normal, our stomachs quiver at the prospect. But for strategists and managers today, there is no