Strategic Management Principles

Strategic management involves formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.Strategic management provides overall direction to the enterprise and involves specifying the organization's objectives, developing policies and plans designed to achieve these objectives, and then...
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Strategic management involves formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.Strategic management provides overall direction to the enterprise and involves specifying the organization's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models often include a feedback loop to monitor execution and inform the next round of planning.Table of Contents :Introduction 72 Why Strategy 83 The Formulation of Strategy 94 Schools of strategy 115 Levels of strategy 136 Process of strategy 167 Types of Strategy 248 Stakeholder theory 29External Analysis 3310 Internal Analysis 3911 Integration 4412 Human resources management HRM 4713 Culture 5114 SWOT Analysis 6315 Generic Strategy 6616 Managing change 7217 Growth and Decline 81Globalization and International Strategy 9019 The Basis of Strategy: Structure 9820 References 113