MAN 3025 Chapter Notes - Chapter 6: Swot Analysis, Competitive Intelligence, Strategic Management

• School: University of Florida
• Department: Management
• Course: MAN 3025
• Professor: Archambeau Lindy

Document Summary

Strategy is the creation of a unique and valuable position. Strategy involved creating a fit among activities. Fit- the ways a company"s activities interact and reinforce. Strategic positioning- attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company: performing different activities from rivals or performing similar activities in. The beginning of the strategic management process is usually touched off by crisis. 5 steps of the strategic management process: establish the mission and the vision, assess the current reality. Current reality assessment- to look at where the organization stands and see what is working and what could be different so as to maximize efficiency and effectiveness in achieving the organization"s mission: formulate the grand strategy. Grand strategy- explains how the organization"s mission is to be accomplished. Strategy formulation- process of choosing among different strategies and altering them to best fit the organization"s needs: implement the strategy, maintain strategic control: the feedback loop.