MGST 391 Chapter Notes - Chapter 4: Igor Ansoff, Strategic Management, Swot Analysis
28 Apr 2013
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Chapter 4 & 5 : strategic management : traditional & other models. Strategic management is the analysis, choice, implementation and control of agreed strategies . Strategy is a course of action including the specification of resources required to meet a specific objective. Tactics is the deployment of resources to execute an agreed strategy. Policy is a general statement providing guidelines for management of decision-making. Levels of strategy: (by hofer and schendel: corporate strategy determines the overall purpose and scope of the organization. It is concerned with what types of business the organization is in. Resources (how to obtain and allocate them) Values (of people in power in organization affect it) Complexity (uncertainty of future: business strategy is how an organization approaches a particular product market area (applied at sbu level), functional/operational strategies deal with specialized area of activity within an sbu e. g. production, marketing, hrm, Traditional approach to make strategy: (through planning in a systematic way)
