ECON 1 Lecture Notes - Lecture 16: Strategic Management, Crisis Management, Risk Assessment
Document Summary
Integrating the crisis management perspective into the strategic management process. Fields evolved separately and in a parallel fashion: cm and sm are inexorably linked to each other. Show how integrating both can provide a defensive capability for preventing crisis developments or lessening their effects if a crisis occurs. The strategic management process: distinct sub discipline in management studies, mintzberg: too little effort towards finding and anointing strategies that are emerging, views strategic. Still evolving degree of heterogeneity as to beliefs of members planning as a useful device for programming intended strategies. Figure 1: found to be an accurate representation of strategic planners" perceptions of contemporary practice. Strategy formulation: determining future direction of firm, some form of external audit or scan specify key external opportunities and threats (swot), and internal strengths and weaknesses development of mission, vision statement and long-term objectives: 2. Strategy selection: tows matrix, identify relationships between sets of previously defined.
