Management and Organizational Studies 4410A/B Chapter 1: Chapter 1 Strategic Management.docx

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 4410A/B
• Professor: Raymond Leduc

Document Summary

An organization"s performance is directly linked to choices its managers make about. Strategy; and: organization"s ability to execute strategy successfully. Downfall of some canadian firms (i. e. eaton"s, kmart, etc. ) Create new competitive landscape for some canadian firms (i. e. canadian tire: bombardier vs. aerospace/public transit/outdoor recreational equipment. Leaders must take on incremental management : view job as making series of minor changes improve efficiency of firm"s operations. But, not many of these are left. So, leaders must concurrently make minor and major changes. Strategic management must become a process & way of thinking. How can i contribute to make our firm to outperform others? . Decide on strategies that provide sustainable advantages that can be sustained over time. Effectively execute strategies in midst of environment of turbulence & uncertainty. Must recognize what & how to strategically analyze situations they face now/future.