What is strategic management? What are the foundations of strategic analysis? What are corporate strategies and how are they formulated? What are business strategies and how are they formulated? What are current issues in strategy implementation? | PowerPoint Presentation to Accompany Management, 10/e John R. Schermerhorn, Jr. Prepared by: Jim LoPresti University of Colorado, Boulder Published by: John Wiley & Sons, Inc. Chapter 8: The Strategic Management Process Management 10/e - Chapter 8 Planning Ahead — Chapter 8 Study Questions What is strategic management? What are the foundations of strategic analysis? What are corporate strategies and how are they formulated? What are business strategies and how are they formulated? What are current issues in strategy implementation? Management 10/e - Chapter 8 Study Question 1: What is strategic management? Basic concepts of strategy: Competitive advantage — operating with an attribute or set of attributes that allows an organization to outperform its rivals. Sustainable competitive advantage — one that is difficult for competitors to imitate. Management 10/e - Chapter 8 Study Question 1: What is strategic management? Basic concepts of strategy Strategy — a | PowerPoint Presentation to Accompany Management, 10/e John R. Schermerhorn, Jr. Prepared by: Jim LoPresti University of Colorado, Boulder Published by: John Wiley & Sons, Inc. Chapter 8: The Strategic Management Process Management 10/e - Chapter 8 Planning Ahead — Chapter 8 Study Questions What is strategic management? What are the foundations of strategic analysis? What are corporate strategies and how are they formulated? What are business strategies and how are they formulated? What are current issues in strategy implementation? Management 10/e - Chapter 8 Study Question 1: What is strategic management? Basic concepts of strategy: Competitive advantage — operating with an attribute or set of attributes that allows an organization to outperform its rivals. Sustainable competitive advantage — one that is difficult for competitors to imitate. Management 10/e - Chapter 8 Study Question 1: What is strategic management? Basic concepts of strategy Strategy — a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish organizational goals with sustainable competitive advantage. Strategic intent — focusing all organizational energies on a unifying and compelling goal. Management 10/e - Chapter 8 Study Question 1: What is strategic management? Strategic Management Process: Strategic management — the process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage. Strategic analysis – process of analyzing the organization, the environment, its competitive position and current strategies Management 10/e - Chapter 8 Figure Strategy formulation and implementation in the strategic management process. Management 10/e - Chapter 8 Study Question 1: What is strategic management? Strategic Management Process: Strategy formulation – the process of crafting strategies to guide allocation of resources Strategy .
