05_Business_Strategy - 05 BusinessStrategy Accountancy301...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Business Strategy Accountancy 301 Measurement & Disclosure Professor Clifton Brown 05 September 8,  2010
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
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.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern