Introduction to Strategic Management Strategic Management (BA 491) Strategic Imperative
Strategic management is the study of why some firms outperform others.
How to create a competitive advantage in the market place that is unique, valuable, and difficult to copy
“ Total organization” perspective, integrating across functional areas.
Two perspectives of leadership: romantic view and external control perspective.
Strategies put together an understanding of the external environment with an understanding of internal strengths and weaknesses.
Definition of Strategic Management
Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages (Dess, Lumpkin, & Eisner, Strategic Management: Creating Competitive Advantage, 3rd Ed. , p. 9).