SGMA 591 Lecture Notes - Lecture 1: Spinning Wheel, Mit Press, Resource Allocation
2 Feb 2017
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Document Summary
Strategy is the great work of the organization. In situations of life and death, it is the tao of survival or extinction. Its study cannot be neglected : sun tzu, the art of war. Strategy as a set of commitments, decisions, and actions: leads to sustained competitive advantage and above average returns, strategy also thought of as irreversible decisions committing to that action. Internal -> culture (very important for strategy), people (fit with culture) Culture has been linked to internal processes. Link between strategy (overarching) and functional components of business (tactics that occur on day-to- day basis) Identify the best practices and best ways to devise a less error-prone strategy. Hambrick & james fredrickson, the academy of management. Arenas (strategy tells you about the arenas the company competes in) Vehicles (how will you actually compete in a given space) Economic logic (how exactly do they make their money)
