Chapter 8 - 0 Strategy Formulation and Implementation...

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Strategy Formulation and Implementation CHAPTER 8 0
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Learning Objectives Define the components of strategic management. Describe the strategic planning process and SWOT analysis. Understand grand strategies for domestic and international operations. Define corporate-level strategies and explain the portfolio approach. 0
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Learning Objectives (contd.) Describe business-level strategies, including Porter’s competitive forces and strategies and partnership strategies. Explain the major considerations in formulating functional strategies. Discuss the organizational dimensions used for implementing strategy. 0
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Strategic Management Set of decisions and actions used to implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals Responsibility = top managers and chief executive 0
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Strategic Management Managers ask such questions as. .. What changes and trends are occurring? Who are our customers? What products or services should we offer? How can we offer these products or services most efficiently? 0
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Grand Strategy General plan of major action to achieve long-term goals Falls into three general categories 1. Growth 2. Stability 3. Retrenchment A separate grand strategy can be defined for global operations 0
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Grand Strategy: Growth Growth can be promoted internally by investing in expansion or externally by acquiring additional business divisions - Internal growth = can include development of new or changed products - External growth = typically involves diversification – businesses related to current product lines or into new areas 0
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Chapter 8 - 0 Strategy Formulation and Implementation...

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