Strategic management

Strategic management - Strategic management

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Strategic management http://www.answers.com/topic/strategic-management Wikipedia: Strategic management Sponsored Links CEO Management Programme Enhance Your Multi-faceted CEO's Role at SIM. Register Now! SIM.edu.sg/Professional_Development Home > Library > Miscellaneous > Wikipedia This article may need to be rewritten entirely to comply with Wikipedia's quality standards . You can help . The discussion page may contain suggestions. (March 2009) 1
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Contents [ hide ] 1 Strategy formulation 2 Strategy implementation 3 Strategy evaluation o 3.1 Suitability 3.1.1 Feasibility 3.1.2 Acceptability 4 General approaches 5 The strategy hierarchy 6 Historical development of strategic management o 6.1 Birth of strategic management o 6.2 Growth and portfolio theory o 6.3 The marketing revolution o 6.4 The Japanese challenge o 6.5 Gaining competitive advantage o 6.6 The military theorists o 6.7 Strategic change o 6.8 Information and technology driven strategy o 6.9 Knowledge driven strategy 7 The psychology of strategic management 8 Reasons why strategic plans fail 9 Limitations of strategic management o 9.1 The Linearity Trap 10 References 11 External links 12 See also Strategic or institutional management is the conduct of drafting, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long- term objectives [1] . It is the process of specifying the organization 's mission , vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. Strategic management is a level of managerial activity under setting goals and over Tactics . Strategic management provides overall direction to the enterprise and is closely related to the field of Organization Studies . In the field of business administration it is useful to talk about "strategic alignment" between the organization and its environment or 2
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"strategic consistency". According to Arieu (2007), "there is strategic consistency when the actions of an organization are consistent with the expectations of management, and these in turn are with the market and the context." “Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment.” (Lamb, 1984:ix)
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This note was uploaded on 04/19/2011 for the course MBA 550 taught by Professor Schneider,d during the Spring '11 term at AIB College of Business.

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Strategic management - Strategic management

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