1. environmental scanning 2. strategy formulation 3. strtaegy implementation 4 . evaluvation and control
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what is a strategy
The broad programme for achieving an organizations's targets and implementing its mission. by ( stoner &freeman)
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what is strategic management
understanding the strategic posistion of an organization, strategic choices for the future and turning strategy into action ( johnson and scoles)
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what is strategic analysis
Understanding the strategic posistion of the organization
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what is strategic choice
provides the basis for the strategic choice
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what is strategic implementaion
traslation of strategy in action
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characteristics of a strategic decision
1. long term perspective 2. to achieve sustainable competitive advantage 3. scope is organizational activities 4. matching of the activities to the environment
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why organizations need strategies
1. to set the direction 2. to focus efforts to change in a chaninging environment. 3. to define the market . 4. to provide consistency for operations.
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Other cards in this set
Card 2
Front
what is a strategy
Back
The broad programme for achieving an organizations's targets and implementing its mission. by ( stoner &freeman)
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