COMMERCE 2BC3 Lecture Notes - Lecture 2: Hierarchical Organization, Transaction Processing, Learning Organization
9 Nov 2016
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Document Summary
Goal of strategic management in an organization: to deploy and allocate resources in a way that gives it a competitive advantage. Its to create value for the customer and do it profitably. Origin: greek word strategos, roots in military language means general"s grand design behind war or battle. Approaching to address the competitive challenges an organization faces: go for generic strategies to fit into some strategy type, engage in generic goals but develop strategies that helps achieve the company"s goals. Note: strategic mgmt is more than a collection of strategic models; its more of a allocation of resources (human organization and physical) that will increase the likelihood of achieve those goals. Strategic planning groups decide on a strategic direction by defining the company"s: Then come up with strategic alt. and compare the ability of those alt. to achieve the company"s goals and mission. Organization follows through on the chosen strategy. Ensuring that the firm has sailed employees in place.
