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Unformatted text preview: Business Strategy Accountancy 301 Measurement & Disclosure Professor Clifton Brown 05 September 8, What is business strategy? Policy and higher-order goals Tactics and concrete actions Strateg y Perspective Position Plan Pattern & Business borrowed the concept of strategy from the military (Sun Tzu in 6 th Century). Strategy is the bridge between policy/higher order goals and tactics/concrete actions, which taken together straddle the gap between ends and means . One forms strategy with the expectations of others’ responses to ones actions (i.e., strategic thinking). Strategy is a composite of: Perspective – view of the future one seeks to achieve; Position – one’s place in one’s environment, largely determined by one’s command over resources – including knowledge – relative to the command of others; Plan – process of defining one’s direction and allocating the resources necessary to accomplish this direction; Pattern of actions over time (emergent strategy) – what we seek to accomplish is not completely knowable in advance; strategy dynamics. Porter – Strategy as a market...
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This note was uploaded on 06/05/2011 for the course ACCT 301 taught by Professor Yueli during the Spring '10 term at University of Illinois, Urbana Champaign.
- Spring '10