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Foundations of Planing (Reasons for planning (provide direction, minimize…
Foundations of Planing
Reasons for planning
provide direction
minimize waste and redundancy
set the standards to facilitate control
reduce the impact of change
Strategic Management
process
1.Identify Mission, Goals and Strategies
2.External Analysis
3.Internal Analysis
4.Formulate Strategies
5.Implement Strategies
6.Evaluate Results
Strategies Managers Use
Competitive Strategy
Cost leadership strategy
Differentiation strategy
Focus strategy
Stuck in the middle
Functional Strategy
Corporate stategy
Growth Strategy
Stability Strategy
Renewal Strategy
Strategic Weapons
Employee skills & loyalty
Innovation
Customer service
Quality
Social media
Big data
types of goals
stated goals
real goals
types of plans
frequency of use
single-use
sranding
specificity
specific
directional
time frame
short-term
long-term plans
breadth of use
tactical plans
strategic plans