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    This chapter introduces strategic management and provides an overview of its key concepts. It outlines the strategic management model and process, including strategy formulation, implementation, and evaluation. It discusses the benefits of strategic management for firms and compares business and military strategy. The chapter also covers guidelines for effective strategic management, the importance of ethics, and the nature of global competition.

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    This chapter introduces strategic management and provides an overview of its key concepts. It outlines the strategic management model and process, including strategy formulation, implementation, and evaluation. It discusses the benefits of strategic management for firms and compares business and military strategy. The chapter also covers guidelines for effective strategic management, the importance of ethics, and the nature of global competition.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    6 views1 page

    Strategic Management

    Uploaded by

    CharityMos
    This chapter introduces strategic management and provides an overview of its key concepts. It outlines the strategic management model and process, including strategy formulation, implementation, and evaluation. It discusses the benefits of strategic management for firms and compares business and military strategy. The chapter also covers guidelines for effective strategic management, the importance of ethics, and the nature of global competition.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    of 1

    13 |P a g e

    CHAPTER 1
    THE NATURE OF STRATEGIC MANAGEMENT
    CHAPTER OUTLINE

    jWhat is Strategic Management?

    jKey Terms in Strategic Management

    jThe Strategic-Management Model

    jBenefits of Strategic Management

    jWhy Some Firms Do No Strategic Planning

    jPitfalls in Strategic Planning

    jGuidelines for Effective Strategic Management

    jBusiness Ethics and Strategic Management

    jComparing Business and Military Strategy

    jThe Nature of Global Competition

    jThe Cohesion Case: Disney


    CHAPTER OBJECTIVES
    After studying this chapter, you should be able to do the following:
    1.
    Describe the strategic-management process.
    2.
    Explain the need for integrating analysis and intuition in strategic management.
    3.
    Define and give examples of key terms in strategic management.
    4.
    Discuss the nature of strategy formulation, implementation, and evaluation
    activities.
    5.
    Describe the benefits of good strategic management.
    6.
    Explain why good ethics is good business in strategic management.
    7.
    Explain the advantages and disadvantages of entering global markets

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