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11 Cards in this Set

  • Front
  • Back

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.

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.

Three main elements of Strategic Management

(1) Strategic Analysis


(2) Strategic Choice


(3) Strategic Implementation

SA

Strategist seeks to understand the strategic position of the organization.

SC

Formulation of possible courses of action, their evaluation and choice bet them

SI

Concerned with planning how choice of strategy can be put into effect

Characteristics of strategic decision

-seek to match the strengths

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

SPS: Igor Ansoff (corporate strategy 1965)

comprehensive theoretical framework for strategic planning

3 classes of decisions

Strategic


Administrative


Operational

Form of series of flow charts

Comprehensive model of the