ACTG 3000 Lecture 3: Cases-in-Strategic-Management-An-Integrated-Approach-9th-Edition
1 Dec 2017
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Document Summary
Its purpose is to define critical concepts and introduce the main components of the strategic leadership and management process. This chapter serves to establish the context within which subsequent chapters fit. Chapter 1 begins with a discussion of the concept of strategy. The strategies an organization pursues have a major impact upon its performance relative to its peers. The firm"s top managers have direct responsibility for choosing strategies that will lead to superior performance and provide competitive advantage. Next, the chapter equates superior performance with profitability, for profit-seeking enterprises. Sustained competitive advantage occurs when a firm is able to maintain above average profitability over an extended period of time. Strategic management is just as crucial to nonprofits as it is to profit- seeking businesses. Much of strategic management 9/e is about identifying and describing the strategies that managers can pursue to achieve superior performance and provide their company with a competitive advantage.
