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Copyright 2005 Prentice Hall Strategic Management Week one Lecturer Information Name: Jintao, Zhang H/P:663355) QQ: 791099091 PPT Download Address: FTP://IBF.BNUEP.COM E-mail: zhang_jintao@ Question Time Any Question? Try to Ask…… Text Book Information Readings Assignment Exam Attendance - 10% Group Assignment – 40% Final Exam – 50% (Open Book) Chapter 1 The Nature of Strategic Management Strategic Management: Concepts Cases 11th Edition Fred David Art science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives In essence, the strategic plan is a company’s game plan Stages of Strategic Management Formulation Implementiong Evaluation Peter Drucker: -- Think through the overall mission of a business. Ask the key question: “What is our Business?” The strategic management process attempts to organize quantitative and qualitative information under conditions of uncertainty Intuition is based on: Past experiences Judgment Feelings Organizations must monitor events On-going process Internal and external events Timely changes “Anything that a firm does especially well compared to rival firms” 1. Adapting to change in external trends, internal capabilities and resources Rate magnitude of change increasing dramatically Effective Adaptation What kind of business should we become? Are we in the right fields Are there new competitors? What strategies should we pursue? How are our customers changing? Key Terms Vision Statement – What do we want to become? Mission Statement – What is our business? Largely beyond the control of a single organization Opportunities Threats (External) Process of conducting research and gathering and assimilating external information Basic Tenet of Strategic Management Controllable activities performed especially well or poorly Strengths Weaknesses (Internal) Assessing the Internal Environment M
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