Professional Documents
Culture Documents
Strategic Management: Mcgraw-Hill/Irwin © 2005 The Mcgraw-Hill Companies, Inc., All Rights Reserved
Strategic Management: Mcgraw-Hill/Irwin © 2005 The Mcgraw-Hill Companies, Inc., All Rights Reserved
Chapter 1
Strategic Management
What is Strategy?
1. Corporate level
2. Business level
3. Functional level
Greater risk,cost,
and profit potential
Involve action-oriented
Functional-
Functional- operational issues
level
level
decisions
decisions Are relatively short range
and low risk
• Generic Strategies
• Low cost
• Differentiation
• Focus
• Grand Strategies
• Comprehensive, general plan of major
actions through which the firm intends to
achieve its long-term objectives in a
dynamic environment