BU481 Lecture Notes - Lecture 9: Strategic Management
Document Summary
Management preferences formed by needs, beliefs and situational pressures. Management preferences are specific to their individual personalities and experiences and situations. Personal preferences lead to differences in strategic management. What drove us before may still or may be different now. What drives you will help shape your career and career choices. Basic needs: central aspects of a manager"s personality, stable, enduring, generally consistent. Beliefs: can vary from deep to casual and can change over time, direct management preferences towards specific strategic initiatives and responses. Your job description and what you actually do. In who"s interest is management acting shareholder: maximize shareholder return, also focus on your internal staff. They have a broader social responsibility especially if they have a societal impact, like using organic. A lot of companies are saying it is more than just shareholder return. Employees: you want to make sure these employees are satisfied, can be done through compensations, and just management support.
