Strategic Management
Strategic Management
Strategic Management
• Scope: refers to the number and types of industries, product lines, and
markets organization competes in or plans to enter;
• Goals and objectives: specific desires that organization plans to achieve
in a specified time period. It can be volume growth, profit contribution or
return on investment over a specified period;
• Resource deployment: strategy should specify which and how much
resources are required in order to be allocated for an activity to be done
leading to the realization of objectives.
• Identification of a sustainable competitive advantage: it refers to
examining the market opportunities in each business and product-market
and the firm’s distinctive competencies or strengths relative to
competitors.
Components of Strategy