Strategic management

1. Strategic Management
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2. Competition and the need for
Strategy
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Is this our comprehension about the competition?

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In January 2020

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13. What is
Strategy?
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14. Strategy
• Is it a plan?
• Ends?
• Position?
• Pattern?
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17. Strategy
• Strategy is a choice about what the
firm will do and what it will not do, so
as to create advantage over the
competition.
• Strategy is a comprehensive action
plan that identifies long-term direction
and guides resource utilisation to
accomplish organisational goals with
sustainable competitive advantage.
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18. Environmental
Scanning
Strategy
Formulation
Strategy
Implementation
Evaluation
and
Control
Basic Model of Strategic Management
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19. Environmental Scanning
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20. Opportunities & Threats
(External)
External Macro-environment
• Political and Legal Forces
• Economic Conditions
• Social and Cultural Forces
• Technological Factors
• Demographics
• Competition
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