Chapter 6 Outline

Chapter 6 Outline - Chapter 6 Outline Planning, Strategy,...

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Chapter 6 Outline Planning, Strategy, and Competitive Advantage Planning and Strategy Planning is a three step strategy: o 1. Determining the organization’s mission and goals- defining the business and establishing major goals o 2. Formulating strategy- analyze the current situation and develop strategies o 3. Implementing strategy- allocate resources and responsibilities to achieve strategies. Why is planning important? o Planning is necessary to give the organization a sense of direction and purpose o Planning is a useful way of getting managers to participate in decision making about the appropriate goals and strategies for an organization. o A plan helps coordinate managers of the different functions/divisions of an organization to ensure that they all pull in the same direction and work to achieve its desired future. o A plan can be used as a device for controlling managers within an organization. Levels of Planning-each level thinks differently about strategies o Corporate level-top management decisions pertaining to the organization’s mission, overall strategy, and structure. Think about demographic,
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This note was uploaded on 04/26/2011 for the course MGT 300 taught by Professor Mathys,nicholas during the Winter '08 term at DePaul.

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Chapter 6 Outline - Chapter 6 Outline Planning, Strategy,...

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