Strategic Management - Lesson 01 - Overview [Compatibility Mode]

Strategic ManagementPart One – Overview of Strategic

Management

06/02/2014/P. K. Sarkar/Master

Strategic Mgmt - Pearce and Robinson Ch 1 -Lesson 01

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Overview – Lesson 01Pearce, Robinson & Amita Mital -

Twelfth Edition - Chapter 1

After completing this lesson youshould be able to:

• Explain the concept of Strategic Management• Describe how strategic decisions differ from other

decisions that managers make.• Name the benefits and risks of participative approach to

strategic management.• Understand the types of strategic decisions for which

managers at different levels of the company areresponsible.

• Describe a comprehensive model of strategic decision-making.

• Appreciate the importance of strategic management as aprocess.



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• Explain the concept of Strategic Management• Describe how strategic decisions differ from other

decisions that managers make.• Name the benefits and risks of participative approach to

strategic management.• Understand the types of strategic decisions for which

managers at different levels of the company areresponsible.

• Describe a comprehensive model of strategic decision-making.

• Appreciate the importance of strategic management as aprocess.

The Nature and Value ofStrategic Management



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The Nature and Value ofStrategic Management

What is Meant by Strategy? – (1/3)

• Strategy, a word of military origin, refers to aplan of action designed to achieve a particulargoal. In military usage strategy is distinct fromtactics, which are concerned with the conduct ofan engagement, while strategy is concernedwith how different engagements are linked. Howa battle is fought is a matter of tactics: the termsand conditions that it is fought on and whether itshould be fought at all is a matter of strategy.



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• Strategy, a word of military origin, refers to aplan of action designed to achieve a particulargoal. In military usage strategy is distinct fromtactics, which are concerned with the conduct ofan engagement, while strategy is concernedwith how different engagements are linked. Howa battle is fought is a matter of tactics: the termsand conditions that it is fought on and whether itshould be fought at all is a matter of strategy.


• Etymology: The word strategy derives from theGreek "στρατηγία" (strategia), "office of general,command, generalship", in turn from"στρατηγός" (strategos), "leader or commanderof an army, general", a compound of "στρατός"(stratos), "army, host" + "ἀγός" (agos), "leader,chief", in turn from "ἄγω" (ago), "to lead".

• The word was first used in German as"Strategie" in a translation of Leo's (The Wise ofByzentium) work in 1777, shortly thereafter inFrench as "stratégie" by Leo's French translator,and was first attested in English 1810.



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• Etymology: The word strategy derives from theGreek "στρατηγία" (strategia), "office of general,command, generalship", in turn from"στρατηγός" (strategos), "leader or commanderof an army, general", a compound of "στρατός"(stratos), "army, host" + "ἀγός" (agos), "leader,chief", in turn from "ἄγω" (ago), "to lead".

• The word was first used in German as"Strategie" in a translation of Leo's (The Wise ofByzentium) work in 1777, shortly thereafter inFrench as "stratégie" by Leo's French translator,and was first attested in English 1810.


• Dictionary meaning of the word “Strategy”:– (n) an elaborate systematic plan of action.– (n) the branch of military science dealing with

military command and the planning andconduct of war.

• In today’s business world, companies fightbattles in the market place. Companiescreate strategies to fight competitors. #



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• Dictionary meaning of the word “Strategy”:– (n) an elaborate systematic plan of action.– (n) the branch of military science dealing with

military command and the planning andconduct of war.

• In today’s business world, companies fightbattles in the market place. Companiescreate strategies to fight competitors. #

Definition of “StrategicManagement”

• Strategic Management is defined as the

set of decisions and actions resulting in

formulation and implementation of

strategies designed to achieve the

objectives of the organisation. #



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• Strategic Management is defined as the

set of decisions and actions resulting in

formulation and implementation of

strategies designed to achieve the

objectives of the organisation. #

Nine Critical Tasks of StrategicManagement – (1/5)

1. Formulate the company’s mission,including broad statements about itspurpose, philosophy, and goals.

2. Conduct an analysis that reflects thecompany’s internal conditions andcapabilities.

3. Assess the company’s externalenvironment, including both thecompetitive and general contextualfactors. #



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1. Formulate the company’s mission,including broad statements about itspurpose, philosophy, and goals.

2. Conduct an analysis that reflects thecompany’s internal conditions andcapabilities.

3. Assess the company’s externalenvironment, including both thecompetitive and general contextualfactors. #


4. Analyse the company’s options bymatching its resources with the externalenvironment.

5. Identify the most desirable options byevaluating each option in the light of thecompany’s mission.

6. Select a set of long-term objectives andgrand strategies that will achieve themost desirable options. #



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4. Analyse the company’s options bymatching its resources with the externalenvironment.

5. Identify the most desirable options byevaluating each option in the light of thecompany’s mission.

6. Select a set of long-term objectives andgrand strategies that will achieve themost desirable options. #


7. Develop annual objectives and short-termstrategies that are compatible with the selectedset of long-term objectives and grandstrategies.

8. Implement the strategic choices by means ofbudgeted resource allocations in which thematching of tasks, people, structures,technologies, and reward systems isemphasised.

9. Evaluate the success of the strategic processas an input for future decision-making. #



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7. Develop annual objectives and short-termstrategies that are compatible with the selectedset of long-term objectives and grandstrategies.

8. Implement the strategic choices by means ofbudgeted resource allocations in which thematching of tasks, people, structures,technologies, and reward systems isemphasised.

9. Evaluate the success of the strategic processas an input for future decision-making. #


• As these nine tasks indicate that strategicmanagement involves the:– planning,– directing,– organising, and– controlling of a company’s strategy-related

decisions and actions. #



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• As these nine tasks indicate that strategicmanagement involves the:– planning,– directing,– organising, and– controlling of a company’s strategy-related

decisions and actions. #


• By strategy, managers mean their large-scale, future-oriented plans for interactingwith the competitive environment toachieve company objectives.

• A strategy is a company’s “game plan.”Although that plan does not preciselydetail all future deployments (of people,finances, and material), it does provide aframework for managerial decisions. #



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• By strategy, managers mean their large-scale, future-oriented plans for interactingwith the competitive environment toachieve company objectives.

• A strategy is a company’s “game plan.”Although that plan does not preciselydetail all future deployments (of people,finances, and material), it does provide aframework for managerial decisions. #

Dimensions of Strategic Decisions– (1/6)

• Strategic issues require top-managementdecisions:– Strategic decisions overarch several areas of

a firm’s operations.– Usually only top management has the

perspective needed to understand their broadimplications.

– Usually only top managers have the power toauthorise necessary resource allocations.



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• Strategic issues require top-managementdecisions:– Strategic decisions overarch several areas of

a firm’s operations.– Usually only top management has the

perspective needed to understand their broadimplications.

– Usually only top managers have the power toauthorise necessary resource allocations.


• Strategic issues require large amounts ofthe firm’s resources:‒ They involve substantial allocations of people,

physical assets, and money.‒ Strategic decisions commit the firm to actions

over an extended period.‒ In highly competitive firms, achieving and

maintaining customer satisfaction frequentlyinvolves commitment from every facet of thefirm.



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• Strategic issues require large amounts ofthe firm’s resources:‒ They involve substantial allocations of people,

physical assets, and money.‒ Strategic decisions commit the firm to actions

over an extended period.‒ In highly competitive firms, achieving and

maintaining customer satisfaction frequentlyinvolves commitment from every facet of thefirm.


• Strategic issues often affect the firm’s long-term prosperity‒ Strategic decisions commit the firm for a long

time, typically five years; however the impactlasts much longer.

‒ Once a firm has committed itself to a strategy,its image and competitive advantages areusually tied to that strategy.

‒ Firms become known for what they do andwhere they compete. Shifting away from thatcan jeopardise their previous gains.



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• Strategic issues often affect the firm’s long-term prosperity‒ Strategic decisions commit the firm for a long

time, typically five years; however the impactlasts much longer.

‒ Once a firm has committed itself to a strategy,its image and competitive advantages areusually tied to that strategy.

‒ Firms become known for what they do andwhere they compete. Shifting away from thatcan jeopardise their previous gains.


• Strategic issues are future-oriented:‒ They are based on what managers forecast,

rather than what they know.‒ Emphasis is on the development of solid

projections that will enable a firm to seek themost promising strategic options.

‒ A firm will succeed only if it takes a proactive(anticipatory) stance toward change.



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• Strategic issues are future-oriented:‒ They are based on what managers forecast,

rather than what they know.‒ Emphasis is on the development of solid

projections that will enable a firm to seek themost promising strategic options.

‒ A firm will succeed only if it takes a proactive(anticipatory) stance toward change.


• Strategic issues usually havemultifunctional or multi-businessconsequences:‒ Strategic decisions have complex implications

for most areas of the firm.‒ Decisions about customer mix, competitive

emphasis, or organisational structure involve anumber of the firm’s SBUs, divisions, orprogram units.



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• Strategic issues usually havemultifunctional or multi-businessconsequences:‒ Strategic decisions have complex implications

for most areas of the firm.‒ Decisions about customer mix, competitive

emphasis, or organisational structure involve anumber of the firm’s SBUs, divisions, orprogram units.


• Strategic issues require considering thefirm’s external environment:– All businesses exist in an open system. They

affect and are affected by external conditionsthat are largely beyond their control

– Successful positioning requires that strategicmanagers look beyond operations andconsider what relevant others are likely to do.



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• Strategic issues require considering thefirm’s external environment:– All businesses exist in an open system. They

affect and are affected by external conditionsthat are largely beyond their control

– Successful positioning requires that strategicmanagers look beyond operations andconsider what relevant others are likely to do.

Two Levels of Strategy – SingleBusiness Firms

Corporate / BusinessStrategy

ProductionR&D strategies

Financial/AccountingStrategies Marketing

strategiesHRD

strategies

Corporate level

Functionallevel



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Marketingstrategies

HRDstrategies

Functionallevel

Three Levels of Strategy – MultipleBusiness Firms

Corporate Strategy

Business 1 Business 2 Business 3

Corporate level

Business (SBU) level

Doingthe rightthings



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Financial/AccountingStrategies Marketing

strategiesHRD

strategiesFunctionallevel

Doingthingsright

Ends(What is to be

achieved)

Means(How is to be achieved)

Board ofDirectors

CorporateManagers

BusinessManagers

FunctionalManagers

Strategic Decision Makers

Mission, includingGoals andphilosophy

Hierarchy of Objectives andStrategies



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Mission, includingGoals andphilosophy

Long-termobjectives

Annual objectives

Grand strategy

Short-term strategiesand policies

Note: indicates a principal responsibility; indicates a secondary responsibility

Greater risk,cost,and profit potential

Characteristics of StrategicManagement Decisions – (1/3)



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Corporate-leveldecisions

Greater need forflexibility

Longer time horizons

Functional-level

decisions

Functional-level

decisions

Implement overall strategy

Involve action-orientedoperational issues




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Functional-level

decisions

Functional-level

decisions

Involve action-orientedoperational issues

Are relatively short rangeand low risk

Incur only modest costs

Bridge decisions atcorporate and functional

levels

Are less costly, risky, andpotentially profitable thancorporate-level decisions




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Business-leveldecisions

Are less costly, risky, andpotentially profitable thancorporate-level decisions

Are more costly, risky, andpotentially profitable thanfunctional-level decisions

Formality in Strategic Management– (1/4)

• Definition of formality (in strategicmanagement):– Degree to which participants, responsibilities,

authority, and discretion in decision makingare specified.

– Greater formality has positive correlation withcost, comprehensiveness, accuracy andsuccess of planning. #



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• Definition of formality (in strategicmanagement):– Degree to which participants, responsibilities,

authority, and discretion in decision makingare specified.

– Greater formality has positive correlation withcost, comprehensiveness, accuracy andsuccess of planning. #


• Forces affecting degree of formality– (1/6) Size of the organisation,– (2/6) its predominant management styles,– (3/6) the complexity of environment,– (4/6) its production process,– (5/6) its problems, and– (6/6) the purpose of planning system #



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• Forces affecting degree of formality– (1/6) Size of the organisation,– (2/6) its predominant management styles,– (3/6) the complexity of environment,– (4/6) its production process,– (5/6) its problems, and– (6/6) the purpose of planning system #


• Formality most often is associated with twofactors namely: size and stage of developmentof the company. Methods of evaluating strategicsuccess are also linked to degree of formality.

• In entrepreneur run small firms performanceevaluation are less formal. It is calledentrepreneurial mode. In such cases, strategicevaluation is informal, intuitive and limited. #



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• Formality most often is associated with twofactors namely: size and stage of developmentof the company. Methods of evaluating strategicsuccess are also linked to degree of formality.

• In entrepreneur run small firms performanceevaluation are less formal. It is calledentrepreneurial mode. In such cases, strategicevaluation is informal, intuitive and limited. #


• Larger firms are more formal. In large firmsevaluation is part of a comprehensive,formalised and multilevel strategic planning.Henry Mintzberg called this planning mode.

• Mintzberg also identified a third mode calledadaptive mode in the middle of the spectrumseen with medium-sized firms in relatively stableenvironments.

• It is not unusual to find different modes withinthe same company at different stages. #



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• Larger firms are more formal. In large firmsevaluation is part of a comprehensive,formalised and multilevel strategic planning.Henry Mintzberg called this planning mode.

• Mintzberg also identified a third mode calledadaptive mode in the middle of the spectrumseen with medium-sized firms in relatively stableenvironments.

• It is not unusual to find different modes withinthe same company at different stages. #

The Strategy Makers – (1/2)

• The ideal strategic management teamincludes:• (1/3) Chief executive officer (CEO)• (2/3) Product managers• (3/3) Heads of functional areas

• The strategic management team obtainsinput from:• (1/2) Planning staff• (2/2) Lower-level management and

supervisors #06/02/2014/P. K. Sarkar/Master


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• The ideal strategic management teamincludes:• (1/3) Chief executive officer (CEO)• (2/3) Product managers• (3/3) Heads of functional areas

• The strategic management team obtainsinput from:• (1/2) Planning staff• (2/2) Lower-level management and

supervisors #

The Strategy Makers – (2/2)

• Role of CEO:• (1/3) Provides long-term direction• (2/3) Assumes ultimate responsibility for firm’s

success• (3/3) Solicits guidance from Board of Directors• The challenge for the CEO is not to dominate

the process but to allow participation ofmanagers at different levels in the strategicposture of the company. #



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• Role of CEO:• (1/3) Provides long-term direction• (2/3) Assumes ultimate responsibility for firm’s

success• (3/3) Solicits guidance from Board of Directors• The challenge for the CEO is not to dominate

the process but to allow participation ofmanagers at different levels in the strategicposture of the company. #

Benefits of Strategic Management– (1/3)

• (1/3) Strategic Management approachemphasises interaction by managers atall levels.

• (2/3) Results into certain behaviouralconsequences (item 3/3) – requiring aset of non-financial evaluation criteria,besides financial evaluation criteria. #



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• (1/3) Strategic Management approachemphasises interaction by managers atall levels.

• (2/3) Results into certain behaviouralconsequences (item 3/3) – requiring aset of non-financial evaluation criteria,besides financial evaluation criteria. #


• (3/3) Regardless of profitability aspect of agiven strategic plan, several (five)behavioural effects (non-financial benefits)can be seen, which are:– (1/5) Strategy formulation activities enhance

the firm’s ability to prevent problems.– (2/5) Group-based strategic decisions are

likely to be drawn from the best availablealternatives. #



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• (3/3) Regardless of profitability aspect of agiven strategic plan, several (five)behavioural effects (non-financial benefits)can be seen, which are:– (1/5) Strategy formulation activities enhance

the firm’s ability to prevent problems.– (2/5) Group-based strategic decisions are

likely to be drawn from the best availablealternatives. #


– (3/5) The involvement of employees instrategy formulation improves theirunderstanding of the productivity-rewardrelationship in every strategic plan and thusheightens their motivation.

– (4/5) Gaps and overlaps in activities amongindividuals and groups are reduced asparticipation in strategy formulation clarifiesdifferences in roles.

– (5/5) Resistance to change is reduced. #



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– (3/5) The involvement of employees instrategy formulation improves theirunderstanding of the productivity-rewardrelationship in every strategic plan and thusheightens their motivation.

– (4/5) Gaps and overlaps in activities amongindividuals and groups are reduced asparticipation in strategy formulation clarifiesdifferences in roles.

– (5/5) Resistance to change is reduced. #

Risks of Strategic Management

• (1/3) Time involved may negatively impactoperational responsibilities of managers.

• (2/3) Lack of involvement of strategymakers in strategy implementation mayresult in shirking of responsibility forstrategic decisions.

• (3/3) Potential disappointment ofemployees over unattained expectationsrequires managerial time and training. #



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• (1/3) Time involved may negatively impactoperational responsibilities of managers.

• (2/3) Lack of involvement of strategymakers in strategy implementation mayresult in shirking of responsibility forstrategic decisions.

• (3/3) Potential disappointment ofemployees over unattained expectationsrequires managerial time and training. #

The Strategic ManagementProcess



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The Strategic ManagementProcess

Strategic Management ModelCompany mission,Social responsibilityand ethics

Externalenvironment

Strategic Analysis and Choice

Possible?

Desired?

Feed

back

Major impact

Minor impact

Feed

back

Internalanalysis



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Long-termObjectives

Generic andGrand Strategies

Strategic Control,Innovation and Entrepreneurship

Short-term Objectives;reward system

Functional tactics Policies thatempower

Organisational structure,Leadership and Culture.

Feed

back

Feed

back

Strategic Management Process –(1/2)

• Because of the similarity among thegeneral models of the strategicmanagement process, it is possible todevelop an eclectic (= choosing the best out ofeverything, broad, the opposite of exclusive) modelrepresentative of the foremost thought inthe strategic management area. Thismodel is shown in the previous slide. Itserves three major functions: #



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• Because of the similarity among thegeneral models of the strategicmanagement process, it is possible todevelop an eclectic (= choosing the best out ofeverything, broad, the opposite of exclusive) modelrepresentative of the foremost thought inthe strategic management area. Thismodel is shown in the previous slide. Itserves three major functions: #

Strategic Management Process –(2/2)

• (1/3) First, it depicts the sequence (roughly) andthe relationships of the major components of thestrategic management process.

• (2/3) Second, it is the outline for this course.This chapter provides a general overview of thestrategic management process, and the majorcomponents of the model will be the principaltheme of subsequent chapters.

• (3/3) Third, the model offers one approach foranalysing the case studies in this text and thushelps the analyst develop strategy formulationskills. #



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• (1/3) First, it depicts the sequence (roughly) andthe relationships of the major components of thestrategic management process.

• (2/3) Second, it is the outline for this course.This chapter provides a general overview of thestrategic management process, and the majorcomponents of the model will be the principaltheme of subsequent chapters.

• (3/3) Third, the model offers one approach foranalysing the case studies in this text and thushelps the analyst develop strategy formulationskills. #

Components of StrategicManagement Model – (1/11)

• Company Mission:• (1/5) Specifies unique purpose of company• (2/5) Identifies scope of operations• (3/5) Describes product, market, and

technological areas of emphasis• (4/5) Reflects values and priorities of decision

makers• (5/5) Expresses approach to social

responsibility efforts. #06/02/2014/P. K. Sarkar/Master


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• Company Mission:• (1/5) Specifies unique purpose of company• (2/5) Identifies scope of operations• (3/5) Describes product, market, and

technological areas of emphasis• (4/5) Reflects values and priorities of decision

makers• (5/5) Expresses approach to social

responsibility efforts. #


• Internal Analysis:• (1/3) Depicts quantity and quality of

company’s financial, human, and physicalresources

• (2/3) Assesses company’s strengths andweaknesses

• (3/3) Contrasts past successes and concernswith current capabilities to identify futurecapabilities. #



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• Internal Analysis:• (1/3) Depicts quantity and quality of

company’s financial, human, and physicalresources

• (2/3) Assesses company’s strengths andweaknesses

• (3/3) Contrasts past successes and concernswith current capabilities to identify futurecapabilities. #


• External Environment:• (1/2) Consists of all conditions and forces

affecting firm’s strategic options and define itscompetitive situation

• (2/2) Includes three interactive segments –remote, industry, and operating environments.#



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• External Environment:• (1/2) Consists of all conditions and forces

affecting firm’s strategic options and define itscompetitive situation

• (2/2) Includes three interactive segments –remote, industry, and operating environments.#


• Strategic Analysis and Choice:• (1/3) Involves simultaneous assessment of

external environment and company profile• (2/3) Incorporates screening process based

on mission to generate possible (?) anddesired (?) opportunities.

• (3/3) Results in selection of options fromwhich a strategic choice is made. #



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• Strategic Analysis and Choice:• (1/3) Involves simultaneous assessment of

external environment and company profile• (2/3) Incorporates screening process based

on mission to generate possible (?) anddesired (?) opportunities.

• (3/3) Results in selection of options fromwhich a strategic choice is made. #


• Long-term Objectives:– (1/8) Profitability– (2/8) Return on investment– (3/8) Competitive position– (4/8) Technological leadership– (5/8) Productivity– (6/8) Employee relations– (7/8) Public responsibility– (8/8) Employee development. #



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• Long-term Objectives:– (1/8) Profitability– (2/8) Return on investment– (3/8) Competitive position– (4/8) Technological leadership– (5/8) Productivity– (6/8) Employee relations– (7/8) Public responsibility– (8/8) Employee development. #


• Generic Strategies• (1/3) Overall low cost• (2/3) Differentiation• (3/3) Focus

• Grand Strategies• Comprehensive, general plan of major actions

through which the firm intends to achieve itslong-term objectives in a dynamicenvironment. #



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• Generic Strategies• (1/3) Overall low cost• (2/3) Differentiation• (3/3) Focus

• Grand Strategies• Comprehensive, general plan of major actions

through which the firm intends to achieve itslong-term objectives in a dynamicenvironment. #


• Action Plans and Short-Term Objectives:– Translate generic and grand strategies into

“actions”:• (1/4) Identify specific functional tactics to be taken

in the near term• (2/4) Establish a clear time frame for completion• (3/4) Create accountability• (4/4) Specify one or more immediate objectives as

outcomes of the action. #



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• Action Plans and Short-Term Objectives:– Translate generic and grand strategies into

“actions”:• (1/4) Identify specific functional tactics to be taken

in the near term• (2/4) Establish a clear time frame for completion• (3/4) Create accountability• (4/4) Specify one or more immediate objectives as

outcomes of the action. #


• Functional Tactics• (1/2) Involve identifying activities unique to the

function to help build competitive advantage• (2/2) Specify detailed statements of “means”

to be used to achieve short-term objectives.• A radio/TV ad campaign, and an introductory

loan rate #



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• Functional Tactics• (1/2) Involve identifying activities unique to the

function to help build competitive advantage• (2/2) Specify detailed statements of “means”

to be used to achieve short-term objectives.• A radio/TV ad campaign, and an introductory

loan rate #


• Policies that Empower Action• (1/2) Include broad, precedent-setting

decisions that substitute for repetitive or time-sensitive decision making

• (2/2) Often increase managerial effectivenessby empowering discretion of subordinates inimplementing strategies. #



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• Policies that Empower Action• (1/2) Include broad, precedent-setting

decisions that substitute for repetitive or time-sensitive decision making

• (2/2) Often increase managerial effectivenessby empowering discretion of subordinates inimplementing strategies. #


• Restructuring, Reengineering, andRefocusing the Organisation• (1/2) Involves an internal focus – getting work

done efficiently and effectively to make thestrategy work

• (2/2) Downsizing, restructuring andreengineering reflect the critical stage instrategy implementation wherein managersattempt to recast their organisation. #



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• Restructuring, Reengineering, andRefocusing the Organisation• (1/2) Involves an internal focus – getting work

done efficiently and effectively to make thestrategy work

• (2/2) Downsizing, restructuring andreengineering reflect the critical stage instrategy implementation wherein managersattempt to recast their organisation. #


• Strategic Control and ContinuousImprovement:– (1/2) Control:

• (1/3) Tracks a strategy during implementation• (2/3) Detects problems• (3/3) Involves making necessary adjustments

– (2/2) Continuous improvement• (1/2)Provides another approach to strategic control• (2/2) Allows an organisation to respond more

proactively and timely to rapid developments. #



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• Strategic Control and ContinuousImprovement:– (1/2) Control:

• (1/3) Tracks a strategy during implementation• (2/3) Detects problems• (3/3) Involves making necessary adjustments

– (2/2) Continuous improvement• (1/2)Provides another approach to strategic control• (2/2) Allows an organisation to respond more

proactively and timely to rapid developments. #

Implications of viewing StrategicManagement as a Process

• (1/4) Changes in any one component willaffect other components

• (2/4) Strategy formulation andimplementation are sequential

• (3/4) Necessity of feedback frominstitutionalisation, review, and evaluationto early stages of process

• (4/4) Need to regard it as dynamic,involving constant changes ininterdependent strategic activities. #



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• (1/4) Changes in any one component willaffect other components

• (2/4) Strategy formulation andimplementation are sequential

• (3/4) Necessity of feedback frominstitutionalisation, review, and evaluationto early stages of process

• (4/4) Need to regard it as dynamic,involving constant changes ininterdependent strategic activities. #

Documents

Strategic Management - Lesson 01 - Overview [Compatibility Mode]