LECTURE 1 - INTRODUCTION TO STRATEGIC MANAGEMENT

STRATEGIC MANAGEMENT MEANS :
Drafting, implementing and evaluating cross-functional decisions that will be enable an organization to achieve its long-term objectives.

 THE STRATEGIC MANAGEMENT PROCESS IS MADE UP OF THREE MAIN STEP :
  1. Strategy formulation
  2. Strategy implementation
  3. Strategy evaluation

 STRATEGY :
A strategy is concerned with integrating company activities and allocating resources, so that the present objectives can be met.


 PLANNING :
A process of preparing ways to use resources more economically and efficiently so that the purpose of the company is achieved.


 CORPORATE PLANNING :
A process of obtaining objectives and its components followed by a process of finding and evaluating various available alternatives.


 CORPORATE STRATEGY :
A guideline setting the scope where the company should be involved in and can be aligned in such a a way to ensure that business objectives are met.


THE STRATEGIC MANAGEMENT PROCESS :

1.


2.




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