BPL 5100 Chapter Notes - Chapter 1: Strategic Management, Cost Leadership, In Essence
Document Summary
Lo 1-1 the definition of strategic management and its four key attributes. Lo 1-2 the strategic management process and its three interrelated and principal activities. Formulating corporate-level strategy: addresses a firm"s portfolio (or group) of businesses. Strategy implementation: actions made by firms that carry out the formulated strategy, including strategic controls, organizational design, and leadership, leadership plays a central role to ensure that the organization is committed to excellence and ethical behavior. Lo 1-3 the role of corporate governance and stakeholder management, as well as how. Symbiosis can be achieved among an organization"s stakeholders. Lo1-4 the importance of social responsibility, including environmental sustainability, and how it can enhance a corporation"s innovation strategy. Social responsibility and environmental sustainability: moving beyond the immediate. Lo1-5 the need for greater empowerment throughout the organization. Lo1-6 how an awareness of a hierarchy of strategic goals can help an organization achieve coherence in its strategic direction.
