Notas de lectura
BMNG7321/d/p/w
- Grado
- Institución
This is unit 1 - unit 3, lecture notes to provide in depth study knowledge regarding the units.
[Mostrar más]Vista previa 1 fuera de 3 páginas
Vista previa 1 fuera de 3 páginas
Añadir al carrito
Añadir al carrito
Vendedor
Seguir
reshmasingh2
Vista previa del contenido
Theme 1: What is Strategy?LO1: Explain the concept of strategy
Definition: Strategy is a plan of action designed to achieve a long-term or overall aim.
It involves setting goals, determining actions to achieve the goals, and mobilizing
resources to execute the actions.
Key Elements:
o Goals and Objectives: Clearly defined targets.
o Analysis: Understanding the environment, both internal and external.
o Action Plan: Specific steps and resources required.
o Implementation: Putting the plan into action.
o Evaluation: Measuring success and making necessary adjustments.
o
LO2: Explain the development of strategy in the twentieth and twenty-first century
Early 20th Century:
o Military Influence: Strategy concepts borrowed from military tactics.
o Scientific Management: Frederick Taylor's principles focusing on efficiency.
Mid 20th Century:
o Business Strategy: Rise of strategic planning in businesses.
o SWOT Analysis: Introduction of frameworks for strategic analysis (Strengths,
Weaknesses, Opportunities, Threats).
Late 20th Century:
o Competitive Advantage: Michael Porter’s theories on competition and value
chains.
o Resource-Based View: Emphasis on internal capabilities and resources.
21st Century:
o Digital Strategy: Integration of technology and digital transformation.
o Agile and Adaptive Strategies: Flexibility and rapid response to change.
o Sustainable Strategy: Focus on long-term sustainability and ethical
considerations.
LO3: Discuss the nature of strategy
Dynamic and Evolving: Strategy is not static; it evolves with changing circumstances.
Complex and Multifaceted: Involves various elements like finance, marketing,
operations, etc.
Context-Dependent: Strategies differ based on the industry, market conditions, and
organizational goals.
Forward-Looking: Strategy is about future positioning and preparing for potential
challenges.
LO4: Discuss the role of strategy
Direction and Focus: Provides a roadmap and aligns organizational efforts.
Competitive Advantage: Helps in differentiating from competitors.
Resource Allocation: Guides effective utilization of resources.
Risk Management: Identifies potential risks and prepares mitigation plans.
Performance Measurement: Establishes benchmarks for assessing progress.
Theme 2: Understanding Strategic Management
LO5: Explain the concept of strategic management
Los beneficios de comprar resúmenes en Stuvia estan en línea:
Garantiza la calidad de los comentarios
Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!
Compra fácil y rápido
Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.
Enfócate en lo más importante
Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable. Así llegas a la conclusión rapidamente!
Preguntas frecuentes
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.
100% de satisfacción garantizada: ¿Cómo funciona?
Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller reshmasingh2. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for 7,05 €. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
45,681 summaries were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now