B A 405 Chapter Notes - Chapter 1: Feedback, Social Skills, Reference Class Problem
11 Nov 2020
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Document Summary
Strategic leadership: managing the strategy-making process for competitive advantage. Strategy - set of related actions that managers take to attain a goal or goals. Strategic leadership - how to most effectively manage a company"s strategy-making process to create competitive advantage. Concerned with managing the strategy-making process to increase the performance of a company. Strategy-making - process by which managers select and then implement a set of strategies that aim to achieve a competitive advantage. Strategy implementation - task of putting strategies into action, which includes designing, delivering, and supporting products; improving the efficiency and effectiveness of operations; and designing a company"s organizational structure, control systems, and culture. Shareholder value - returns that shareholders earn from purchasing shares in a company. Capital appreciation in the value of a company"s shares. Shareholders provide a company with the risk capital that enables managers to buy the resources needed to produce and sell goods and services.
