COM 400 Lecture Notes - Strategic Management, Organizational Culture, Serendipity
7 Jan 2013
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Document Summary
A lot of businesses fail because they don not have a strategy. Strategy implementation- errors in the way human decision makers process information and reach decisions. Putting strategies into action to improve company"s efficiency. A conception of how a set of strategies mesh and allow a company to gain competitive advantage and achieve superior profitiability. Profitability and growth: roi, success compared to competitors. Corporate level: oversee development of strategies. Business level: responsible for business unit that provides good/service for a oarticular market. Mission statement: provides framework within which strategies are formulated. Some desired future state or objective to be achieved. Major goals: measureable desired future state and organization attempts to realize. A company"s mission is best approached from a customer-oriented business definition. A good vision is meant to stretch a company by articulating an ambitious but attainable future state. How managers and employees should conduct themselves. What kind of organization they need to build to help achieve company"s mission.
