MGCR 423- Midterm Exam Guide - Comprehensive Notes for the exam ( 38 pages long!)

• School: McGill University
• Department: Management Core
• Course: MGCR 423
• Professor: Jan Jorgensen

Document Summary

The aim of this course is to examine what business strategy is and provide an overview of the dominant schools of thought concerning the theory and practice of strategic management. On completion of this course, students should be able to: describe different some of the major schools of thought in business strategy, explain the varying implications of the above schools for the strategic management of business organizations. Example priorities for strategy: more money (revenue/profit, more value (for investors/customers, a better world, world domination. Lecture overview: contrast four basic view on the nature of strategy, explain the principles of the design and planning schools of strategy, evaluate the implications of the above schools for understanding strategy. Four basic views of strategy: plans for the future (intended strategy), patterns out of the past (realized strategy), positions on the ground (products and markets), perspectives in the abstract (theory of the business). The essence of strategy and still probably the most influential (implicit) view.