ADMS 4900 Chapter Notes - Chapter 1: Strategic Management, Stakeholder Management, Henry Mintzberg

• School: York University
• Department: Administrative Studies
• Course: ADMS 4900
• Professor: Jon Kerr

Document Summary

Chapter 1: creating competitive advantages an overview. The effe(cid:272)ti(cid:448)e(cid:374)ess of fi(cid:396)(cid:373)s" (cid:396)espo(cid:374)ses highlights the fa(cid:272)t that a(cid:374) o(cid:396)ga(cid:374)izatio(cid:374)"s su(cid:272)(cid:272)ess (cid:272)a(cid:374)(cid:374)ot (cid:271)e (cid:448)ie(cid:449)ed as de(cid:396)i(cid:448)i(cid:374)g from a single factor; nor can a single person normally make all the difference in the results. The strategic management of an organization must become both a process and a way of thinking throughout the organization. The challenge to managers is, first, to decided on strategies that provide advantages that can be sustained over time and, second, to effectively execute those strategies in the midst of an environment of great turbulence and uncertainty. = strategic management consists of the analyses, decisions, and actions an organization undertakes to create and sustain competitive advantages, competitive advantage i(cid:374) te(cid:396)(cid:374), is (cid:449)hat (cid:373)akes a (cid:272)o(cid:373)pa(cid:374)(cid:455)"s offe(cid:396)i(cid:374)gs supe(cid:396)io(cid:396) to those of its competitors. First, the strategic management of an organization entails three ongoing processes: analysis, decisions, and actions.