Management and Organizational Studies 3383A/B Chapter Notes - Chapter 1-5: Strategic Planning, Competitive Advantage, Vision Statement

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3383A/B
• Professor: Linda Eligh

Document Summary

Strategic planning must be viewed as a dynamic process: subtly evolving a strategy to accommodate changes = logical incrementalism. Emergent strategy: the plan that changes incrementally due to environmental changes. Corporate strategies: organizational-level decisions that focus on long-term survival. Turnaround strategy: an attempt to increase the viability of an organization (retrenchment strategy: getting rid of unprofitable products, imposing layoffs, increasing efficiency, repositioning via new products. Divestiture: the sale of a division or part of an organization. Liquidation: the termination of a business and the sale of its assets. Bankruptcy: a formal procedure in which an appointed trustee in bankruptcy takes possession of a business"s assets and disposes of them in an orderly fashion. Engaging in job creation, aggressive recruitment and selection, rapidly rising wages, expanding orientation and training budgets. Incremental growth: attained by expanding the client base, increasing the products or services, changing the distribution networks, or using technology.