STRATEGIC MILITARY MANAGEMENT

Definition of Terms:

1. STRATEGIC MANAGEMENT –
involves the 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.

2. BUSINESS POLICY – set of rules that

guides the decisions and actions of the
members of the organization.

3. STRATEGY – a plan of action or policy

designed to achieve a major or overall
aim.

Concept of Business Policy:

Strategy vs. Policy:

1. Business Policies exist amidst absence

of business strategy and strategies may
exist without established business
policies.

2. Business policies are generally

directional in nature while strategy is
more operational in context.

3. Business policies are often formal or

written and strategies may be informal
and not necessarily written and often
confidential.

4. Policy is viewed as internal matters

that guide the operationalization of
the business whereas strategy is viewed
more as an external orientation that
the firm’s management should
practice to stay competitive in the
industry or sector it belongs.

Origin and Nature of Strategy:

1.