Professional Documents
Culture Documents
Management
Overview
Why do some firms succeed while others fail?
A central objective of strategic management is to learn
why this happens.
What is strategy?
An action a company takes to attain superior
performance.
What is the strategic management process?
The process by which managers choose a set of
strategies for the enterprise to pursue its vision.
f e at u res
d s t ra t egy
ndon e
Aba
Company Planned Stra
tegy
Experiences, New initiative
s plus ongoin
strategy featu g
Know-how, res continued
prior periods from
Resource
Strengths and Actual Company
Strategy
Weaknesses,
c ha n ging
and cti o n s to
tive re a
Competitive Ad ap ta nces
circu m s
Capabilities e Stra tegy
Reactiv
Determine
relevance
Identify and Craft
of internal
Companys Strategic Situation and
evaluate the
alternatives strategy
external
factors
Resource
strengths, Shared values
Influences of
capabilities, and company
key executives
and
weaknesses
culture
Internal Factors
Formulate Monitor,
Develop Implement
Set Strategy Evaluate,
Vision and
Goals & to Achieve and Take
and Execute
Objectives Goals & Corrective
Mission Strategy
Objectives Action