Business Essay

2015 Words Sep 20th, 2015 9 Pages
Sept.14 : Chapter 1 Introduction to Strategic Management Monday, September 14, 2015

11:32 AM

Why is strategy important?
• Because it leads the organization in the right direction to achieve its goals and objectives.( performance) • It outlines the means by which a company intends to create unique value for customers a other important stakeholders • If forces managers to think holistically ad dynamically about what the company does and those activities consistently attract
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a. This is where you talk about strategy i. Either strategy formulation or implementing strategy
Corporate
level strategy

Why study strategy:
• Because your functional cont will fit better, with those of o function when effectively car the general manager's plans • Appreciate strategic leaders because they have to make t in pursuit of what is best for company. ○ It makes you more understanding of the r others in the company more accommodating needs

and

d why

tributions other arrying out

decisions tradeoffs

the

roles of

and of their

What are the 3 overarching themes in strategy?(assumptions)
1. Firms and industries are dynamic in nature 2. To succeed the formulation of a good strategy and its implementation should be inextricably connected a. Known-­‐doing gap : it’s a problem that is created when managers are better at formulating strategies than they are at implementing them 3. Strategic leadership is essential

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