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Chapter 1
The Foundations of Strategic Management



KNOWLEDGE OBJECTIVES

                1. Define strategic management.
    2. Discuss why firms use the industrial organization model to analyze their external environment.
    3. Discuss why firms use the resource-based view of the firm model to analyze their internal environment.
                4. Define stakeholders and understand their importance.
                5. Explain the work of strategic leaders.

CHAPTER OUTLINE

Focusing on Strategy: Integrating Solutions to Handle Cash:   The Foundation for Loomis’s Continuing Success?
WHAT IS STRATEGIC MANAGEMENT?
The Three Parts of the Strategic Management Process

Understanding Strategy, Learning from Success:   Wal-Mart’s Grocery Business:   Can the Momentum and Success Be Maintained?
Understanding Strategy, Learning from Failure:   ”:”CompUSA Is Closing All of its Stores,” the Headlines Read. What Happened?
THE INDUSTRIAL ORGANIZATION MODEL
THE RESOURCE-BASED VIEW OF THE FIRM MODEL
STAKEHOLDERS
STRATEGIC LEADERS
HOW THE BOOK IS ORGANIZED
SUMMARY
KEY TERMS
DISCUSSION QUESTIONS


STRATEGY TOOLBOX

Mini-Case:   Are Still Better Days Ahead for Hewlett-Packard?
EXPERIENTIAL EXERCISES
BIZ FLIX
ENDNOTES

Lecture notes: Chapter Introduction:   This chapter lays the groundwork with concepts and terminology that will be used throughout the book.   The instructor may wish to emphasize to the students that a firm grasp of these concepts will give them a good foundation for understanding and using the material in the rest of the text.

The purpose of the text is to explain the three parts of strategic management: vision, analysis, and strategy.   Stress that it is crucial for the success of the organization for all members to understand and implement the vision and strategy of the firm.   Ideally, strategy is not isolated at the CEO level, but extends to all levels of employees.   Nor is strategy confined to Fortune 500 firms.   All firms...

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"International". Anti Essays. 19 Nov. 2017

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APA Citation

International. Anti Essays. Retrieved November 19, 2017, from the World Wide Web: http://www.antiessays.com/free-essays/International-644558.html