POLS 4250 Lecture Notes - Lecture 8: Strategic Management, Swot Analysis
9 Nov 2016
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Document Summary
Strategy: a long-term game plan, a pattern of objectives to be carried out. Management in strategy: formulate strategic content, indirectly shape new strategy, pursue new departures. Strategic leadership : thinking (critical thinking process), definition (identifying a solid value proposition), alignment and enactment (delivering on the intentions) Balanced score card: strategic management system that institutionalizes new culture systems: has 4 tenants, financial, customer, learning and growth and internal business. Organizations are built from the top down with the goal in mind and then see how to get there. Benchmarking: identify the best way to practice, learn through others failures and successes: but companies may just try to imitate each other instead of evolving and creating better best practices. The political environment is key: area of policy is important. Do we want to focus on making the tax payer happy or on the bottom line: private sector focuses almost always on the bottom line.
