Review Slides - Strategic Management: Creating Competitive...

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Strategic Management: Creating Competitive Advantages An Introduction to Strategic Management
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Defining Strategic Management Strategy n A firm’s theory of how it can use its resources and assets to accomplish its goals. Strategic management n Analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages 2
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Two Fundamental Questions 1. How should we compete in order to create competitive advantages in the marketplace? 1. How can we create competitive advantages in the marketplace that are unique, valuable, and difficult for rivals to copy or substitute? 6
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Key Attributes of Strategic Management 1. Directs the organization toward overall goals and objectives 1. Includes multiple stakeholders in decision making t Stakeholders—individuals, groups, and organizations who have a “stake” in the success of the organization 7
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Key Attributes of Strategic Management (cont.) 1. Needs to incorporate short-term and long-term perspectives
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This note was uploaded on 09/13/2011 for the course MGMT 4513 taught by Professor Staff during the Fall '11 term at Oklahoma State.

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Review Slides - Strategic Management: Creating Competitive...

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