BUSINESS MANAGEMENT 3A COMPREHENSIVE
TEST NOTES
📚 Learning Unit 1: Strategic Management – An Overview
, (Chapter 1)
📖 Overview
Managing an organisation today is extremely complex due to the intensity of
global competition, changing market conditions, technological
advancements, and sustainability demands. Leaders must think strategically
about where they fit into the competitive landscape and how they contribute
to transformation and sustainable development. This unit introduces the
concept of strategy, explains the historical development of strategy thinking,
the nature and role of strategy, the strategic management process, different
perspectives on managing strategically, and key tests for a winning strategy.
✨ Theme 1: The Essence and Development of Strategy
(Linked to LO1 – LO4)
Short Summary:
Strategy is the path and actions an organisation chooses to achieve
long-term goals.
It developed historically from military practices into a business
discipline.
Strategy must align with both internal capabilities and external
conditions.
Sustainability is now a critical part of modern strategy.
Expanded Full Notes:
What is Strategy?
Strategy is the coordinated set of actions and resource allocations aimed at
achieving a competitive advantage over the long term. It involves deciding
where and how an organisation competes, and with which capabilities.
Modern strategic management views strategy not only as deliberate
planning but also as the ability to adapt to unpredictable environmental
changes.
Development of Strategy Thinking:
1950s–1960s: Strategy in business was formalised, inspired by
military strategy. Key concepts such as planning, command structures,
and positioning became common.
TEST NOTES
📚 Learning Unit 1: Strategic Management – An Overview
, (Chapter 1)
📖 Overview
Managing an organisation today is extremely complex due to the intensity of
global competition, changing market conditions, technological
advancements, and sustainability demands. Leaders must think strategically
about where they fit into the competitive landscape and how they contribute
to transformation and sustainable development. This unit introduces the
concept of strategy, explains the historical development of strategy thinking,
the nature and role of strategy, the strategic management process, different
perspectives on managing strategically, and key tests for a winning strategy.
✨ Theme 1: The Essence and Development of Strategy
(Linked to LO1 – LO4)
Short Summary:
Strategy is the path and actions an organisation chooses to achieve
long-term goals.
It developed historically from military practices into a business
discipline.
Strategy must align with both internal capabilities and external
conditions.
Sustainability is now a critical part of modern strategy.
Expanded Full Notes:
What is Strategy?
Strategy is the coordinated set of actions and resource allocations aimed at
achieving a competitive advantage over the long term. It involves deciding
where and how an organisation competes, and with which capabilities.
Modern strategic management views strategy not only as deliberate
planning but also as the ability to adapt to unpredictable environmental
changes.
Development of Strategy Thinking:
1950s–1960s: Strategy in business was formalised, inspired by
military strategy. Key concepts such as planning, command structures,
and positioning became common.
