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Lecture 1

MGCR 423 Lecture 1: Strat Lecture 1
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1 Page
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Fall 2017

Department
Management Core
Course Code
MGCR 423
Professor
Moore
Lecture
1

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STRATEGY LECTURE 1
What is strategy?
Strategy is the path needed in order to get from point A (where we are today)
to point B (where we want to be)
o It involves long term thinking (the definition of long-term can vary
depending on the context)
o Most times there are multiple strategies that take place concurrently
Tactics (or actions) are the steps used in order to take the path to your
destination
Types of strategy
What are the different types of strategy?
o Corporate level (for the organization as a whole)
o Business unit (for the different parts of the company)
o Function strategies (marketing, IT, Finance)
o Departments, individuals
What are the different strategic planning processes?
o Top-down vs. bottom up
o Structured vs. unstructured
Why do plans fail?
o Lots of reasons, but lack of buy-in is a key one
o Things change
o Over competence
o Lack of follow through
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Description
STRATEGY LECTURE 1 What is strategy? Strategy is the path needed in order to get from point A (where we are today) to point B (where we want to be) o It involves long term thinking (the definition of longterm can vary depending on the context) o Most times there are multiple strategies that take place concurrently Tactics (or actions) are the steps used in order to take the path to your destination Types of strategy What are the different types of strategy? o Corporate level (for the organization as a whole) o Business unit (for the different parts of the company) o Function strategies (marketing, IT, Finance) o Departments, individuals What are the different strategic planning processes? o Topdown vs. bottom up o Structured vs. unstructured Why do plans fail? o Lots of reasons, but lack of buyin is a key one o Things change o Over competence o Lack of follow through
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