Strategic Management Course Overview and Strategy Concept
Strategic Management Course Overview and Strategy Concept
Strategic Management Course Overview and Strategy Concept
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What is “<strong>Strategy</strong>”? : Working Definition<br />
� The businesses the firm is in or is to enter <strong>and</strong> how it will compete in them<br />
(objectives <strong>and</strong> positioning statement)<br />
� An integrative pattern of decisions engaging all the levels of the firm<br />
-fundamental positioning: product-market focus <strong>and</strong> key stages of the value<br />
chain<br />
-important elements of functional policies describing the fundamental<br />
positioning in detail<br />
� The long-term actions <strong>and</strong> resource allocation priorities of the firm<br />
(“big decisions” <strong>and</strong> / or sum of many operational decisions)<br />
© 2007 Prof. Dr. Bernd Venohr<br />
… to achieve long-term sustainable<br />
competitive advantage in its industry <strong>and</strong><br />
ultimately success<br />
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