Strategic Management 1-22-07

Strategic Management 1-22-07 - Clarity of Purpose &...

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1 Benefits of Strategies Clarity of Purpose Describe Identity and Image Anticipate Opportunities and Threats Deeper Understanding of Business Standardize Operations Establish Competitive Advantage Various Dimensions of the Concept of Strategy Strategy as a means of establishing the organizational purpose in terms of its long-term objectives, action programs and resource allocation priorities Strategy as definition of the competitive domain of the firm Strategy as a response to external opportunities and threats, and internal strengths and weaknesses, in order to achieve a sustainable competitive advantage Strategy as a way to define managerial tasks with corporate, business and functional perspectives Strategy as a coherent, unifying and integrative pattern of decisions Strategy as a definition of the economic and non-economic contribution the firm intends to make to its stakeholders Strategy as an expression of strategic intent: stretching the organization Strategy as a means to develop the core competencies of the organization Strategy as a means of investing in tangible and intangible resources to develop the capabilities that assure sustainable advantage Various Dimensions of the Concept of Strategy Mission of the Business Business Scope and Core Competencies Choosing the Competitive Domain Strategy Formulation and Implementation Defining and Executing the Managerial Tasks Competitive Positioning Achieving Sustainable Competitive Advantage
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Strategic Management 1-22-07 - Clarity of Purpose &...

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