Strategy Management Essay

16437 WordsJun 7, 201466 Pages
pt3 chapter7 What Is Your Strategy Strength? Thinking Strategically New Manager Self-Test: Your Approach to Studying, Part 2 What Is Strategic Management? Purpose of Strategy Levels of Strategy The Strategic Management Process Strategy Formulation Versus Execution SWOT Analysis Formulating Corporate-Level Strategy Portfolio Strategy The BCG Matrix Diversification Strategy Formulating Business-Level Strategy Porter’s Five Competitive Forces Competitive Strategies New Trends in Strategy Innovation from Within Strategic Partnerships Global Strategy Globalization Multidomestic Strategy Transnational Strategy Strategy Execution Chapter Outline Learning Outcomes After studying this chapter, you should be able to: 1. Define the components of strategic management and discuss the levels of strategy. 2. Describe the strategic management process and SWOT analysis. 3. Define corporate-level strategies and explain the BCG matrix, portfolio, and diversification approaches. 4. Describe Porter’s competitive forces and strategies. 5. Discuss new trends in strategy, including innovation from within and strategic partnerships. 6. Discuss the organizational dimensions used for strategy execution. © GE T T Y IMAGES/DIGITAL VISION Strategy Formulation and Implementation WHAT IS YOUR STRATEGY STRENGTH?1 As a new manager, what are your strengths concerning strategy formulation and implementation? To find out, think about how you handle challenges and issues in your school or job. Then mark (a) or (b) for each of the following items, depending on which is more descriptive of your behavior. There are no right or wrong answers. Respond to each item as it best describes how you respond to work situations. 1. When keeping records, I tend to _____ a. Be careful about documentation. _____ b. Be haphazard about documentation. 1 Introduction 8. I am most effective when I

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