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  • Chapter 8 - Strategic Management

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    Mamaru Sewalem
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    This document discusses key aspects of developing and implementing business strategies. It outlines the following strategic management process: 1) Analyzing the external environment and internal organization, 2) Identifying strategic issues, 3) Formulating strategies, 4) Implementing strategies through organizing and leading, 5) Evaluating strategies using controlling measures. It also notes that managers face challenges requiring strategic flexibility and responding quickly to major changes. Finally, it briefly discusses the "Rule of Three" concept regarding industry concentration.

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    This document discusses key aspects of developing and implementing business strategies. It outlines the following strategic management process: 1) Analyzing the external environment and internal organization, 2) Identifying strategic issues, 3) Formulating strategies, 4) Implementing strategies through organizing and leading, 5) Evaluating strategies using controlling measures. It also notes that managers face challenges requiring strategic flexibility and responding quickly to major changes. Finally, it briefly discusses the "Rule of Three" concept regarding industry concentration.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    16 views1 page

    Chapter 8 - Strategic Management

    Uploaded by

    Mamaru Sewalem
    This document discusses key aspects of developing and implementing business strategies. It outlines the following strategic management process: 1) Analyzing the external environment and internal organization, 2) Identifying strategic issues, 3) Formulating strategies, 4) Implementing strategies through organizing and leading, 5) Evaluating strategies using controlling measures. It also notes that managers face challenges requiring strategic flexibility and responding quickly to major changes. Finally, it briefly discusses the "Rule of Three" concept regarding industry concentration.

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    situation where a company has not 
     Saved been able to develop either a low cost 
    or differentiation competitive
    advantage
    c.  F unctional  S trategies (strategies used by various functional areas
     Bestsellers
    to support competitive advantage)
    ±  Seeks to determine how to support the
     Books business-level strategy
    5.   Implement  Strategies (through organising and leading)
    6.  Evaluate Strategies (through controlling)
     Audiobooks

     Magazines What current strategy strategies challenges do managers face?

      Must have strategic flexibility (ability to recognise major challenges and to


     Documents y

    quickly respond to them)


    y   The Rule of Three
     Sheet Music
    ±  Similar to Porters 3 competitive strategies
    ±  Competitive forces in an industry, if kept free of government 
    interference or other special circumstances, will inevitable create a
    situation where three companies dominate any given market.
    i.  Full-line Generalists
      Dominate market 

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