Summary
Summary BMNG 7321 3A (BMNG)
- Course
- Institution
Just chapters 1-3 from the business text book which will be important to you
[Show more]
Seller
Follow
joshuaamos253
Reviews received
Content preview
Managements 4 critical questions1. Where are we now?
2. Where do we want to go?
3. How will we get there?
4. How are we doing?
Characteristics of strategic decisions
1. Strategy is concerned with long term direction and sustainable success.
2. Strategy exploits the links between the internal and external environments – the strategic
link.
3. Strategies require major resources.
4. Strategies are likely to affect the whole organisation.
5. Strategies are shaped by the values and expectations of stakeholders.
6. Strategies are directed by vision – the ability to move forward.
Mintzbergs 5 P’s of strategy
1. Perspective: Organisations way of doing things.
2. Ploy: Specific manoeuvre to outweigh competitors
3. Plan: Overall direction and a course of action.
4. Position: Determination of a particular product in a particular market.
5. Pattern: Consistent behaviour over time.
3 levels of strategy:
1. Corporate level strategy: Sets direction of organisation and determines how value can be
added at all levels.
2. Business level strategy: How to compete to strengthen market position and attain
comparative advantage of each area of business unit.
3. Functional level strategy: Implementing business strategy.
Inside – out perspective (Internal)
• Resources and capabilities
• Strategic architecture
• Goals and value
• Business intelligence
Outside – in perspective (external)
• Macro environment
• Industry environment
• Competitive Intelligence
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller joshuaamos253. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.65. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now