Wheelen10 ppt01

STRATEGIC MANAGEMENT & BUSINESS POLICY 10 TH EDITION THOMAS L. WHEELEN J. DAVID HUNGER CHAPTER 1 Basic Concepts of Strategic Management

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Strategic Management Defined Set of managerial decisions and actions that determines the long-run performance of a firm.

Basic Concepts of Strategic Management Basic Elements of the Strategic Management Process

Environmental Scanning Defined Monitoring, evaluation, and disseminating information from external and internal environments –to key people in the firm

Basic Concepts of Strategic Management Environmental Variables

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Strategy Formulation Development of long-range plans for effective management of opportunities and threats in light of corporate strengths and weaknesses

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Organizational Adaptation ,[object Object],[object Object],[object Object],[object Object],[object Object]

Organizational Adaptation ,[object Object],[object Object],[object Object]

Learning Organizations An organization skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights

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Basic Concepts of Strategic Management Hierarchy of Strategy

Goals & Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object]

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Basic Concepts of Strategic Management Strategic Decision-Making Process

Strategic Decision Making ,[object Object],[object Object],[object Object],[object Object]

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Hambrick and Fredrickson – Good Strategy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Wheelen10 ppt01

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