Two basic kinds of organizational structures exist-Formal and informal.....
A firm’s organizational structure is a formal configuration that largely determines what the firm will do and how it will complete its work. ....
Strategy formulation and strategy implementation when depicted on a matrix form suggests four probable outcomes of the four combinations of variables:....
The true success of an organization depends upon effective formulation and implementation of strategies. ....
Derived form the Greek word “synergos,” which means “working together” exceeds the value those units could create working independently. ....
An organization’s mission gives a framework or direction to a firm. ....
Its name or articles of incorporation do not define a business. The business mission defines it. ....
CK Prahald and Hamel coined the term ‘strategic intent’ to indicate an obsession of an organization, some times having ambitions that may even be ....
The process of establishing direction consists of three major steps as shown in Figure 3.1....
After the economic liberalization announced in India in 1991, strategic management has gained greater relevance. ....
Henry Mintzberg has given three most typical approaches of strategic decision making which include:....
Strategists are individuals or groups who are primarily involved in the formulation, implementation, and evaluation of strategy. ....
Strategic management consists of four basic elements.....
Once there were two company presidents who competed in the same industry. ....
Corporate strategy is a continuous on going process and extends company wide over a diversified company’s business. ....
The Chief Architect approach: A single person – the owner or CEO –assumes the role of chief strategist and chief entrepreneur, single handedly sha....
A typical business firm should consider three types of strategies, which form a hierarchy as shown in Figure 1.1....
Strategic management is basically needed for every organization and it offers several benefits.....