Professional Documents
Culture Documents
The Nature of Strategic Management
The Nature of Strategic Management
Strategic
Management:
Concepts & Cases
11th Edition
Fred David
Long-Term Objectives
Alternative Strategies
Strategy Selection
Annual Objectives
Policies
Employee Motivation
Resource Allocation
Internal Review
External Review
Performance Metrics
Corrective Actions
Vision Statement –
What do we want to become?
Mission Statement –
What is our business?
Strategies
Chapter 3
Internal
Audit
Chapter 4
Financial Benefits
• Improvement in sales
• Improvement in profitability
• Productivity improvement
Non-Financial Benefits
Difficult communications
Underestimate foreign competition
Cultural barriers to effective management
Complications arising from currency
differences