Maha Kalbouneh
Business Faculty
Business Administration
Strategic Management and Business Policy
Mid-term Material
Done by: Maha Kalbouneh
, Maha Kalbouneh
Chapter 1
Phases of strategic management:
1. Basic financial planning:
- Very little analysis with most information coming from within the firm.
- The time horizon is usually one year (short term).
2. Forecast-based planning:
- For projects that may take more than one year.
- They collect information in ad hoc basis.
- The managers compete for larger shares of limited funds.
3. Externally oriented planning:
- Information is collected by employees from internal and external environment
4. Strategic Management:
It is a long term plan for achieving long term goals and objectives with an optimal
goal that is achieving competitive advantage by linking internal with external
environment
Goals and objectives should be SMART
S: Specific
M: Measurable
A: Achievable
R: Realistic
T: Timing
Benefits of strategic management:
1. Clearer sense of strategic vision of the firm.
Business Faculty
Business Administration
Strategic Management and Business Policy
Mid-term Material
Done by: Maha Kalbouneh
, Maha Kalbouneh
Chapter 1
Phases of strategic management:
1. Basic financial planning:
- Very little analysis with most information coming from within the firm.
- The time horizon is usually one year (short term).
2. Forecast-based planning:
- For projects that may take more than one year.
- They collect information in ad hoc basis.
- The managers compete for larger shares of limited funds.
3. Externally oriented planning:
- Information is collected by employees from internal and external environment
4. Strategic Management:
It is a long term plan for achieving long term goals and objectives with an optimal
goal that is achieving competitive advantage by linking internal with external
environment
Goals and objectives should be SMART
S: Specific
M: Measurable
A: Achievable
R: Realistic
T: Timing
Benefits of strategic management:
1. Clearer sense of strategic vision of the firm.
