Introduction to management:
Chapter 8; Strategy formulation and execution
Strategic management refers to the set of decisions and actions used to formulate and
execute strategies that will provide a competitively superior fit between the organization
and its environment so as to achieve organizational goals.
What changes and trends are occurring in the competitive environment?
Who are our competitors and what are their strengths and weaknesses?
Who are our customers?
What products or services should we offer and how can we offer them most
effectively?
What does the future hold for our industry, and how can we change the rules of the
game?
Help managers make choices about how to position their
Chapter 8; Strategy formulation and execution
Strategic management refers to the set of decisions and actions used to formulate and
execute strategies that will provide a competitively superior fit between the organization
and its environment so as to achieve organizational goals.
What changes and trends are occurring in the competitive environment?
Who are our competitors and what are their strengths and weaknesses?
Who are our customers?
What products or services should we offer and how can we offer them most
effectively?
What does the future hold for our industry, and how can we change the rules of the
game?
Help managers make choices about how to position their
