Beruflich Dokumente
Kultur Dokumente
MANAGEMENT
A summary by: Hope Louise Mwarome
THE CONCEPT OF
STRATEGY
Strategy is the
direction and
scope of an
organization
over the long
term, which
achieves
advantage in a
changing
environment
through its
configuration of
resources and
competences
with the aim of
fulfilling
stakeholder
expectations
Levels of strategy
CONCEPT OF STRATEGY
contd
Strategic decisions are
about:
The long-term direction of
an organization
The scope of an
organizations activities
Gaining advantage over
competitors
Addressing changes in the
business environment
Building on resources and
competences
(capabilities)
Values and expectations
of stakeholders
Characteristics
Business domain
Organizational vision
Strategic fit
Competitive advantage
Basis for attracting customers
Cost leadership
Differentiation
Focus
- Positioning
Strategy
STRATEGIC MANAGEMENT
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Competent implementation of
strategy
STRATEGIC
MANAGEMENT contd
Benefits of Strategic Management
Allow synergy
Aid evaluation
Establish priorities
Reduce uncertainty
Minimize conflicts
Providing direction
Competitive advantage