[SGMA 591] - Midterm Exam Guide - Everything you need to know! (140 pages long)

• School: University of Calgary
• Department: Strategy and Global Management
• Course: SGMA 591
• Professor: Ayesha Malhotra

Document Summary

Strategy is the great work of the organization. In situations of life and death, it is the tao of survival or extinction. Its study cannot be neglected : sun tzu, the art of war. Strategy as a set of commitments, decisions, and actions: leads to sustained competitive advantage and above average returns, strategy also thought of as irreversible decisions committing to that action. Internal -> culture (very important for strategy), people (fit with culture) Culture has been linked to internal processes. Link between strategy (overarching) and functional components of business (tactics that occur on day-to- day basis) Identify the best practices and best ways to devise a less error-prone strategy. Hambrick & james fredrickson, the academy of management. Arenas (strategy tells you about the arenas the company competes in) Vehicles (how will you actually compete in a given space) Economic logic (how exactly do they make their money)