Description
Open Discussion
An open discussion, although ungraded, provides you with the opportunity to collaborate with your peers regarding specific topics. This open discussion asks you to reflect on your passions, and then share them with your peers.
Overview
Strategy is important because all effective organizations need a game plan on how to stay competitive in a very competitive environment. Strategic management allows the functional areas of the organization to work together for the long-term success of the organization. The students are provided the opportunity to see the comprehensive strategic-management model that highlights each component and the three phases of strategic planning. This model integrates all the chapters in the book in a definitive process approach to the course. Going over this model is an excellent way to cover the topics introduced in the chapter.
What to Post?
Discuss the logical arrangement of the various components and phases of the comprehensive strategic-management model. Answer the challenge questions and respond to at least one of your classmates. Be sure to justify your answers.
Challenge Questions:
What are the three stages or phases in strategic management?
Which stage is more analytical?
Which relies most on empowerment to be successful?
Which relies most on statistics?
Purpose:
By completing this activity, you should be able to understand the logical arrangement of the strategic management model and the three phases. You will also be able to identify the three-fundamental strategy-evaluation activities: (1) reviewing external and internal factors that are the bases for current strategies, (2) measuring performance, and (3) taking corrective actions.
