Strategic Management
Strategic Management
Strategic Management
Set of flashcards Details
| Flashcards | 25 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | Primary School |
| Created / Updated | 03.11.2011 / 24.11.2014 |
| Licencing | No Copyright (CC0) |
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What's the origin of the term „strategy“
Greek: „stratos“ = army, „agos“ = leader
Originally: „Art and science of operating armed forces“, i.e. planning
and implementation of military operations.
What are the overall aspects of the term „strategy“
- fields of activity
- future oriented
- competitor related
- relation to environmental situations
- relation to company resources
- comprehensive alignment of company activities
- „big decisions“
- not easily reversible
Name the aspects of the term strategy by Weick 1995; Luhmann 1984
siehe Bild
Name the basic questions of strategic planning
In which business segments/markets shall we operate/compete?
- Definition of Corporate Strategy
- Where to compete?
With which actions do we compete in particular markets?
- Definition of Business Strategy
- How to compete?
What are our core capabilities?
What are the levels of strategy
Corporate Strategy:
- Definition of business segments
- Allocation of ressources
Business Strategy:
- Positioning in selected business segments
- How to compete in each business segment
Draw: Strategic Management Process
see picture
Name the Historical Development of Strategic management
1950 Budgeting
1960 Long-term Planning
1970 Strategic Planning
1980 Implementation
1990 Strategic Management
What are the basic perspectives within the scope of Strategic Management
1) Plan-determined / plan-oriented management
2) Descriptive strategy research
3) Market based / Resource based approach
