Creating, creation, take adv of the opportunity, maneuvers
Not to innovate is the single largest reason for the decline of existing organizations
Low cost energy; electricity extracted from litters/garbage. Not to innovate is the single largest reason for the decline of existing organizations
The end goal of Classical planning is a deliberate need for profit maximization
Processual strategy is typically seen as deliberate and pluralistic
evolutionary strategy is emergent, and not consciously planned or execute
Systemic strategy is emergent and pluralistic, due to the continuous determining of social needs
Introduction: Strategic Management of Engineering Enterprise
Introduction: Strategic Management of Engineering Enterprise ME 2011st Semester 2012Pangasinan State UniversityProf. Jo B. Bitonio, DPA
IntroductionThe world is changing. The old rules are beginning to buckle, and new standards are emerging-- some still masked in fog, others with greater clarity.
The thing that distinguishes todays successful enterprise, business and government, is the ability to adapt to changes in environment, in markets, and in customer expectations.
In order to survive into the 21st century, an enterprise must make change management an integral, enterprise-wide process. To think in radical terms, a dramatic overhaul of entire operations at a single stroke.
Drucker sees the period were living in as one of "PROFOUND TRANSITION--and the changes are more radical as those ushered in the Second Industrial Revolution in the middle of the 19th century, or the structural changes triggered by the Great Depression and the Second World War". In the midst of all this change, he contends, there are five social and political certainties that will shape business strategy in the not-too-distant future: the collapsing birthrate in the developed world; shifts in distribution of disposable income; a redefinition of corporate performance; global competitiveness; and the growing incongruence between economic and political reality.
Drucker then looks at requirements for leadership ("One cannot manage change. One can only be ahead of it"), the characteristics of the "new information revolution" (one should focus on the meaning of information, not the technology that collects it), productivity of the knowledge worker (unlike manual workers, knowledge workers must be seen as capital assets, not costs), and finally the responsibilities that knowledge workers must assume in managing themselves and their careers.
Singapore is the Greenest Cityaccording to Asian Green City Go Green Architecture,Index ... Sonjiang Hotel, China
MOMEMA - Museum of Middle EastModern Art - UNstudioAr21stcenturyarchitecture.blogspot.comchitects
This Modern Cyber Egg Office Building Design andarchitecture by James Law Cybertecture International andlocated in Mumbai, India.
Canada, is becoming a pioneer of modern Royal Ontariodevelopment in the country Museum, Toronto
a suite will look like at the Water Discus hotel.the first five-star underwater hotel in Dubai
Underwater Hotel From Futuret looks like a cross between Noah’s ark and some ship from a sciencefiction film 1970. Futuristic Hotel “Ark” was designed to withstand floodingcaused by rising sea levels. Floating behemoth “biosphere” is conceivedas a safe, self-seekers in the event of a disaster.The hotel is landscapedwith all facilities for guests. With a shell-shaped, it will withstand tsunamisand other natural disasters.
Biosphere: solar panels and rainwater collection system that will provideresidents of electricity and water, can be adapted for use on land and water.
In the field of engineering, a moregeneral form of enterprise engineering hasemerged encompassing "the application ofknowledge, principles, and disciplinesrelated to the analysis, design,implementation and operation of allelements associated with an enterprise”
DisciplinesThe engineering majors offered at U.S. colleges anduniversities can be roughly divided into one of four size based categories:• The “Big Four” Disciplines: Civil, Computer, Electrical, and Mechanical Engineering, which togethercollectively account for approximately two-thirds (67%) of all engineering bachelor’s degrees awarded annually.• The “Medium Four” Disciplines: Aerospace, Biomedical, Chemical, and Industrial/ManufacturingEngineering, which collectively account for approximately 20% of all engineering bachelor’s degrees awarded annually. Engineering
Disciplines• The “Smaller Ten” Disciplines: Agricultural, Architectural, Engineering Management, Engineering Physics/Engineering Science, Environmental, General Engineering Studies, Materials, Mining, Nuclear, and Petroleum Engineering, which collectively account for less than 10% of all engineering bachelor’s degrees awarded annually.• The Specialty Disciplines: A variety of specialty disciplines offered (such as Ocean Engineering
Philippines There are many types of engineering courses being offered inschools in the Philippines. These engineering courses are: o Ceramics Engineering o Chemical Engineering o Civil Engineering o Computer Engineering o Electrical Engineering o Electronics and Communications Engineering o Geodetic Engineering o Industrial Engineering o Marine Engineering o Material Science Engineering o Mechanical Engineering o Mechatronics Engineering o Metallurgical Engineering o Mining engineering o Software Engineering o Structural Engineering
In essence this is an interdisciplinaryfield which combines systems engineeringand strategic management as it seeks toengineer the entire enterprise in terms of theproducts, processes, business operations, thisfield is related to engineering management,operations management, and management.
• LAW PUBLIC ADMINISTRATION BUSINESS POLITICS MANAGEMENTPUBLIC ECONOMICSPOLICY PUBLIC • CHOICEDEVELOPMEN T Graduate School of Asia and Pacific Studies University of Waseda, Tokyo- JAPAN, 2010
Enterprise EngineeringEnterprise engineering is a sub discipline of system engineering, which applies the knowledge and methods of systems engineering to the design of businesses. The discipline examines each aspect of the enterprise, including business processes, information flows, and organizational structure. Enterprise engineering may focus on the design of the enterprise as a whole, or on the design and integration of certain business components. Wikipedia retrieved 6/24/2012
o "Enterprise Engineering," as it is defined by Visible:1997, involves all the activities that organizations("enterprises") perform to improve productivity, gainand maintain competitive advantage, optimizeresources, deliver quality products and services, andmeet customer expectations and demand.o These can include traditional activities such asreorganization, concentration on core products andcompetencies, niche marketing, acquisition, merger,and new technologies.
Enterprise Engineering also includesnew techniques and methods suchas business process re-engineering,continuous process improvement,total quality management, enterprisearchitecture, and enterpriseintegration.
The management gurus generally agree that time can be squeezed out of every job; that self- managed teams throw more challenge and meaning into employment; and that enterprises sorely need to create networks of relationships with customers, suppliers and competitors (Byrne:1997 as cited by Perskin: 1997).
o Management guru’s tend to agree that smaller is better, yet they do not applaud wholesale downsizing as a cure-all.o "If all you try to do is flatten your existing organization, youll kill it,“ "The fat is not waiting around on top to be cut. Its marbled in, and the only way you get it out is by grinding it out and frying it out. "may mean that enterprises need to totally "re- engineer" how work gets done -- new goals, new methods, new processes, new measures, new technologies (Hammer:1992 as cited by Perskin:1997)
Given the dynamic nature of the global changes, only applied systems approaches can come to rescue because of their inherent capability to bridge the gaps between theory and practice.
Not only governments, enterprises and other organizations, but the world at large are in desperate need of effective methodologies and multi-methodologies in order to manage today’s organizational complexities and implement efficient strategic management.
Essence and the Stages of Strategic Management at the EnterpriseKey Words: Strategy, Management, Engineering, EnterpriseHistorically, the concept of "strategy" has developedin the military lexicon, where it defines the planningand implementation of state policies and political andmilitary alliance of several countries, using allavailable means.
The creation of an economic strategy is "long-term, the most fundamental and important installations, plans, intentions of the government, regional administrations, leadership organizations in the production, income and expenditure, budget, taxation, investment, prices and social protection."
Strategya set of core activities and ways of their implementation. Recent studies and leading management theorists have advocated that strategy needs to start with stakeholders expectations and use a modified balanced scorecard which includes all stakeholders.
Enterprise Strategy- a systematic plan for its potential behavior under incomplete information about the future development and business environment, including the formation of the mission, long-term goals, as well as the ways and rules of decision-making for the most effective use of strategic resources, strengths and opportunities, the elimination of weaknesses protection from threats in the environment for future profitability.
The strategy should be, on the one hand, have a clear idea about the strengths and weaknesses of the company, its market position and, on the other hand, understand the structure of national economy in general and the structure of the industry in which the enterprise operates
The Importance of strategic Management at the Enterprise in Modern Conditions of Management The economic crisis of the economy depends on several factors, among which an important place is occupied by the imperfection of the control system. The turbulent nature of the adverse changes in the economy (inflation, rising prices for raw materials, high interest rates for loans, reducing the populations purchasing power, etc.) and high complexity of the tasks now expanding the role of scientific management to stabilize the socio- economic processes and to ensure high efficiency all types of businesses.
Strategic Managemento The term and concept of "strategic management" introduced in the scientific revolution in the early 70 - ies of the twentieth century to refer to differences between the management of current manufacturing processes and management of the Summit, which focuses on the external environment should be the object of control.o Strategic management as a new approach to management was formed in 1970 - 1980 years. Strategic management is closely linked to issues of planning and economic analysis.o Ansoff  as "an interrelated set of planning strategies for organizing and implementing a plan of a life."
Strategic Management o is a field that deals with the major intended and emergent initiatives taken by GMs on behalf of owners, involving utilization of resources, to enhance the performance of firms in their external environments (Hambrick:2007)
Strategic ManagementChanges in the state of the product, market, industry, position in the industry, the technology used in different growth strategies, strategies for stabilization and reduction strategies (withdrawal).
Strategic Management“Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment.” (Lamb, 1984:ix)
A global/transnationalStrategic management organization maycan depend upon the size employ a moreof an organization, and structured strategicthe proclivity to change of management model,its business environment. due to its size, scope ofThese points are operations, and need tohighlighted below: encompass stakeholder views and requirements.Transnational corporations are engaging in developing transitioneconomies through a broadening array of production and investmentmodels, such as contract farming, service outsourcing, franchising andlicensing.
• An SME (Small and Medium Enterprise) may employ an entrepreneurial approach. This is due to its comparatively smaller size and scope of operations, as well as possessing fewer resources. An SMEs CEO (or general top management) may simply outline a mission, and pursue all activities under that mission.
Whittington (2001) highlighted fourapproaches to strategic management,utilizing different factors that organizationsmay face. These are the Classical,Procession, Evolutionary and Systemicapproaches. Each paradigm is suited tospecific environmental factors, of whichglobal firms have faced over the past 4-5decades.
Classical School (1960) The Classical School (1960) of strategic management essential points of the approach are "where are we now?", "where do we want to be?" and "how do we get there?". It thus comprises an environmental analysis, a choice of available options, and determining a path for action and implementation. The initial task in strategic management is typically the compilation and dissemination of a mission statement. This document outlines, in essence, the raison dêtre of an organization. Additionally, it specifies the scope of activities an organization wishes to undertake, coupled with the markets a firm wishes to serve
Processual• Processual strategic management thus emphasizes politics, in terms of resolving/managing internal conflicts and reaching compromises in strategic decision-making. Internal politics may be required for the following purposes. Some functional areas may require more resources, or be competing for the same items from top management. A functional area could be headed by a powerful manager, who by virtue of his or her influence can impede general strategic actions.• In these cases, satisfying differing viewpoints is key, in an effort to resolve conflict and provide a common path for the organization
Evolutionary• In the 1980s, business environments became more dynamic. It thus became key to "sink or swim", and adapt to the needs, challenges and rigors of ones business landscape. In this sense, evolutionary strategic management is essentially Darwinist, and follows a classical Darwinian path.• Organizations must develop or nurture traits that will help them survive and prosper within their given markets. If they do not, they will perish. A major facet of evolutionary strategic management is a population ecology model, in which firms in an industry are seen akin to a population of animals.• Evolutionary strategy stems from an inability to track properly complex environments. If an industry has continuously changing factors, rational planning (as per the Classical school) is futile. An organization holds no choice but to "adapt or die". Whittington (2001)
Systemic• In recent years, there has been greater emphasis on consumer rights and the general social responsibility of companies. Consumers are now expecting firms to act responsibly in their business operations, and to take heed of numerous needs in this process. It can be said, consequent from this eventuality, that firms operate in a connected fashion with their communities and societies, and necessarily impact and "give and take" from such bodies.• Systemic strategy views the organization as an open system, in that it takes inputs from society and imparts outputs into it. It thus is an integral and interconnected facet of the wider society, and not an entity distinct from it. A rational planning model is not seen as optimal, as it detracts from attuning to the needs of the community and the wider society a firm engages in.
Mintzberg has stated there are prescriptive (what should be) and descriptive (what is) schools, in the sense that the prescriptive schools are "one size fits all" approaches designed to work as best practice methods, and the descriptive schools merely describe how corporate strategy is devised in given contexts.
The Industrial Organizational ApproachTwo main approaches, which are opposite but complement each other in some ways, to strategic management:1. The Industrial Organizational Approach – based on economic theory — deals with issues like competitive rivalry, resource allocation, economies of scale – assumptions — rationality, self discipline behavior, profit maximization
2. The Sociological Approach – deals primarily with human interactions – assumptions — bounded rationality, satisficing behavior, profit sub-optimality. An example of a company that currently operates this way is Google. The stakeholder focused approach is an example of this modern approach to strategy
Strategic Management TechniquesStrategic management techniques can be viewed as bottom-up, top-down,or collaborative processes.The top-down approach is the most common by far. In it, the CEO,possibly with the assistance of a strategic planning team, decides on theoverall direction the company should take. Some organizations are startingto experiment with collaborative strategic planning techniques that recognizethe emergent nature of strategic decisionsIn the bottom-up approach, employees submit proposals to theirmanagers. who, in turn, funnel the best ideas further up the organization.This is often accomplished by a capital budgeting process. Proposals areassessed using financial criteria such as ROI, cost-benefit analysis.Cost underestimation and benefit overestimation are major sources oferror. The proposals that are approved form the substance of a newstrategy, all of which is done without a grand strategic design or a strategicarchitect.
It can be said that there is no overridingstrategic managerial method, and that anumber of differing variables must be takeninto account, relative to how a corporatestrategic plan is outlined. It can also be saidto be a subjective and highly contextualprocess.
In terms of level of management strategies are rankedas follows: 1) Corporate strategy - implemented in diversified companies and includes: creating and managing a highly productive economic portfolio of business units, creating a synergy among related departments, establish investment priorities.2) Business strategy involves: development of measures aimed at enhancing the competitiveness and the preservation of competitive advantages of firms, the formation of a mechanism to respond to external changes, the union of the strategic actions of major functional divisions of the company.3) Functional strategy involves: steps to support the business strategy, actions to achieve the goals department. 4)The operating strategy requires actions to address specific business challenges of subdivision (a functional, territorial).
Management POSDCORB is an acronym created by Luther Gulick and Lyndall Urwick in 1937. Developed as a means to structure and analyze management activities, it set a new paradigm in Public Administration POSDCORB lists the functions of the executives according to Luther Gulick who was a well known member of the classical school of POSDCORB includes seven functions
Enterprise Management Strategy Enterprise management strategy is guarantee of realization of business strategic innovation and successful implementation of sustainable development. Human capital strategy Practical experience to enterprises strategic innovation
Leadership involves:· The whole organization· Leaders are defined by those that decide to follow· Communicating the expectation· Empowerment· Sense of direction or vision· Developing teamwork· Inspiration and motivation· Example· Encouraging people to “step out”· Encouraging people to “get it right”· Engaging people’s hearts and minds
First Stage: Analysis of the EnvironmentThe internal environment is analyzed in the following areas: • Human Resources firms, their capabilities, skills, interests, etc.; • Organization management; • Production, which includes the organizational, operational, technical and technological characteristics, research and development; • Finance companies; • Marketing; • Organizational culture.
Second Stage: Develop a Strategic Vision • Develop a strategic vision and mission of the enterprise, the definition of goals and strategy selection are the main tasks of choosing the direction of the organization. • strategy provides (to ensure) the direction and adaptation activities of the enterprise in a market environment, the creation of a strategy - is first of all entrepreneurial activity, policymakers increasingly must focus on changes in the external environment than to study the internal problems of the enterprise, a dynamic strategy and in the process of enterprise development, strategies for enterprise partially visible and partially hidden from view.
First under the process is to determine the firms mission, which in concentrated form expresses the meaning of existence of the company and its mission. Next comes a process of determining long-term goals. Completes this part of the strategic management of a process for determining short-term goals. Defining the mission and goals of the firm leads to the fact that it becomes clear why the company operates and what it seeks
The third stage. Analysis and selection strategyThis is the main strategic management process. Using special techniques the organization determines how it will achieve its objectives and implement their mission.
Fourth Stage. ImplementationImplementation of the strategy is a critical step, because it was he who in the case of the successful implementation leads the firm to achieve its goals. Very often there are cases when firms fail to implement the chosen strategy.
Implementation of the strategy through the development of programs, budgets and procedures, which can be regarded as medium- and short-term plans to implement the strategy. In the process of implementing the strategy, each level of leadership will carry out its specific task and carries out the functions assigned to him. A crucial role is played by top management. His activities at the stage of implementation of the strategy can be represented in the form of five successive phases.
• Companys strategy consists of actions and attitudes of management personnel to achieve a certain goal of activity;• strategy provides the direction and adaptation activities of the enterprise in a market environment, the creation of a strategy - is first of all entrepreneurial activity, policymakers increasingly must focus on changes in the external environment than to study the internal problems of the enterprise
Fifth stage. Assessment and Monitoring of theStrategyAssessment and monitoring of the strategy are the logical last step, carried out in strategic management. This process provides a robust inverse relationship between how the process of achieving the goals and objectives of the organization.
The main task of monitoring:definition of what is and what indicators to check;assessing the state of the controlled object in accordance with accepted standards, regulations or other benchmarks;identify the causes of deviations, if any, shall be opened as a result of the evaluation;implementation of adjustments, if necessary and possible.
Engineering provides both a road map and a vehicle for an enterprises journey into the future. The Enterprise Engineering life cycle involves a multi-phased approach that coordinates strategic, operational, and organizational demands.
The following is a typical Enterprise Engineeringcycle:1. Describe the enterprise mission in a briefstatement of purpose: what the enterprise does,how, and for whom.2. Make assumptions and gather data about externalfactors; for example, government policies, rates ofinflation, markets, and demographic changes.3. Assess enterprise strengths and weaknesses.4. Establish goals and objectives and measureslinked to the enterprise mission.5. Develop strategic and operational plans to meetthe goals and objectives.
6. Design/re-design and integrate cross- functional processes to meet goals and objectives.7. Implement information systems that support enterprise processes and assist decision- making.8. Evaluate performance to ensure that goals and objectives are being met.9. Reevaluate and change goals, objectives, processes and measures as necessary.
Forms of Business Distinguish the differences between Sole Proprietorship, partnership, Corporation & cooperative Requirements for doing business in the Philippines. Types of Employment in the Philippines
OECD Organization for EconomicCooperation and Development.
Organization of the Development Strategy selection of personnel development, organization of their work and control change management organizational structure in accordance with the needs of strategic management human resources development in the strategic skills and information and analytical support for the strategy development process.
Organizational “Culture”: People, Processes and Values• Major Elements of Organizational Culture• “Sociability” vs. “Solidarity”—or Task and Relationship• Managing People and Strategic Execution Excellence
Topics Assignment & Oral Report2-3 Topics Per Meetingbeginning July –Oct 2ndWeek 2012
Enterprise Development Strategiesa. Tourism & Environment (Eco Tourism)and institutional factors of its development•Green economy•Global Green Economy Index•Issues and Criticismb.Entrepreneurship and growth strategies ofSMEs/Cooperativesc.Organizational, operational and Technological developmentd.Productione.Financialf. Engineering economics f. Marketingg. Techniques and Methods in Enterprise Engineeringh. Using the Balanced Score Card (BSC)
Strategies for Sustainable DevelopmentInnovation and Business Strategies for Sustainable DevelopmentGlobalization and Business Strategies Management challenges in the New Millennia (21st Century)Reinventing Strategic Management G8 Economy Emerging Markets BRIC
Tourism, Environment and Enterprise Development StrategiesTourism has become an important service industry all over the world, and been playing a significant role to poverty reduction. But with the development of tourism, a number of problems appeared, such as the double impact of environmental and cultural crisis of the sensitivity and vulnerability, etc, both of which have become the tourism industry problems to be solved.
The role of tourism industry in the region’s economy and institutional factors of its development Ecotourism’ to ‘Sustainable Tourism’ Responsible Tourism Measurement: the existing situation Tourism Accounting Economic Impact Environmental Impact Livelihoods Impact
Green Economy• Green Economy• Global Green Economy Index• Issues and Criticism
Entrepreneurship and Growth Strategies of SMEs/CooperativesThe importance of SMEs in the economic development The issue of sustainable development of SMEs key points influencing sustainable development of enterprises
Enterprise Management StrategyEnterprise management strategy is guarantee of realization of business strategic innovation and successful implementation of sustainable development. Human capital strategy Practical experiences to enterprises strategic innovation
Production• Organizational• Operational• technical and technological characteristics• and development;
Financial• The role of commercial banks in regional economy investment• Role of IMF/ADB and WB in global economy and venture capital• The method of “financial traffic lights” as an instrument of overcoming economic insolvency of business structures
Marketing• Low cost producer: diversification, niche, hybrid, marketing new products versus mature products models, marketing of industrial vs. consumer vs. “.com” products and services; and role of advertising in marketing;• This marketing orientation, in the decades since its introduction, has been reformulated and repackaged under numerous names including customer orientation, marketing philosophy, customer intimacy, customer focus, customer driven, and market focused.
Techniques and Methods in Enterprise Engineering• Business process re-engineering• Total quality management• Enterprise architecture and• Enterprise integration
Engineering Economics• “Economics is the study of how people and society choose to employ scarce resources that could have alternative uses in order to produce various commodities and to distribute them for consumption, now or in the future” Samuelson and Nordhaus:1985, Economics, 12th Ed., McGraw-Hill, New York, 1985.• Cost-effectiveness• Typical Accounting Tools Time value of money• Estimation of cash flows• Quantitative measurements of profitability• Systematic comparison of alternatives
Using the Balanced Score card as a Strategic Management SystemIntroduction to the Balanced Scorecard What is it? Why do it?Balanced Scorecard Fundamentals The Four Perspectives Measures, Targets and Initiatives Roles and ResponsibilitiesUsing the BSC as a Management System
Innovation and Business Strategies Sustainable Development Strategic innovation innovation tending model of entrepreneurs under the uncertain environment, and furthermore its application in the transition of economies
Globalization and Business Strategies Coordinated Development Globalization is a new phenomenon appearing since 1980s worldwide as the basic character of present era. How to enhance the core competitiveness of enterprises under the background of globalization.
Globalization from positions of economic theory and practice of Philippine economySociocultural features of modern processes of globalizationModern global ecological calls to mankind: to the problem of concept definition and classification
Competitive Advantage There are many ways of competition and strategies of the company: production, product, pricing, etc. Competitive advantage - this situation of the firms in the market, which allows it to overcome the forces of competition and attract customers. Competitive advantages are unique tangible and intangible assets owned by the company that are strategically important for the business areas of activity that allow to win the competition.
Competitive Advantage• The basis of competitive advantage, thus, are unique assets of the enterprise or a special competence in areas important to the business. Competitive advantage is usually implemented at the level of strategic business units and is the basis of the business strategy
Competitive Advantage• The strategy consists of a number of approaches and disciplines developed by the leadership to achieve the best performance in a specific field of activity. The combination of common and general competitive strategy depends on the characteristics of the industry, the overall competitive position of firms in the environment, the characteristics of the enterprise.
Conclusion• Economic development strategies of enterprises is becoming increasingly important for enterprises, which are set in a highly competitive, both among themselves and with foreign corporations. Although strategic planning is not in itself ensure success, but it creates the conditions for the emergence of a number of important and often essential enabling factors for the organization.
At the present stage of development is the transformation of the whole complex of economic, social, relations of power. And it is very important that these changes are the most effective way, taking into account the well-defined, scientifically- based priorities. Current trends that are observed in the external environment and within the country, necessitated, and the desirability of an overall economic development strategy of enterprises, organizations, government bodies and local government units
• These and other questions of equally significant stature are ones that business leaders cannot ignore. Indeed, if these leaders are to survive they need to address them head-on. And in doing so, they need to painstakingly examine their current business strategies and hold them up to the new realities and determine what needs to be changed. In short, they need to re-invent their strategies! A failure to do so could prove fatal.
References:• Deminskaya Julia. Strategy Engineering Enterprise http://masters.donntu.edu.ua/2011/iem/demins accessed 6/24/2012• Alan Perkins. Enterprise Engineering.Visible Systems Corporation 1997 http://www.ies.aust.com/papers/EEMT.html accessed 6/30/2012
Paul Samuelson and William Nordhaus, Economics, 12th Ed., McGrawHill, New York, 1985cw.mit.edu/courses/chemical- engineering/10-490-integrated-chemical- engineering-i-fall- 2006/projects/eng_econ_lecture.pdf.Samuelson and Nordhaus:1985, Economics, 12th Ed., McGrawHill, New York, 1985
• Nag, R.; Hambrick, D. C.; Chen, M.-J,What is strategic management, really? Inductive derivation of a consensus definition of the field. Strategic Management Journal. Volume 28, Issue 9, pages 935–955, September 2007• http://en.wikipedia.org/wiki/Strategic_management