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11 Cards in this Set
- Front
- Back
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Strategy |
High level plan to achieve one or more goals under conditions of uncertainty. Plan of action or policy designed to achieve a major or overall aim. |
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Strategic Management in Construction |
Systematic approach to major and increasingly important responsibility of general management to position and relate the firm to its environment in a way w/c will ensure its continued success & make it secure from surprises. Concerned with deciding on strategy & planning how that strategy is to be put into effect. |
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Three main elements of Strategic Management |
(1) Strategic Analysis (2) Strategic Choice (3) Strategic Implementation |
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SA |
Strategist seeks to understand the strategic position of the organization. |
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SC |
Formulation of possible courses of action, their evaluation and choice bet them |
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SI |
Concerned with planning how choice of strategy can be put into effect |
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Characteristics of strategic decision |
-seek to match the strengths |
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Evolution of strategic management |
1. Strategic planning school 2. Strategy -structure school 3. Power -culture school 4. Competitive advantage school 5. Incrementalists school 6. Synthesis school |
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SPS: Igor Ansoff (corporate strategy 1965) |
comprehensive theoretical framework for strategic planning |
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3 classes of decisions |
Strategic Administrative Operational |
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Form of series of flow charts |
Comprehensive model of the |
