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There are three stages in this process: strategy formulation, strategy implementation, and evaluation and control. Strategy management is also viewed as series of steps. Therefore, the strategic- management process can be best be studied and applied using the model. A review of the major strategic management models indicates that they all include the following steps: performing an environmental analysis, establishing organizational direction, formulating organizational strategy, implementing organizational strategy, evaluating and controlling strategy. More Details Other Editions 4.
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Cambridge Short Introductions to Management: Short Introduction to Strategic Management
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Short Introduction to Strategic Management by Torben Juul Andersen
Not as boring as it could have been for required class reading but pretty dull. The actions are different fordifferent situations.
An organization may takecontradictory actions either simultaneously or with a gap oftime. For example, a firm is engaged in closing down of someof its business and at the same time expanding some. Strategic actions are required fornew situations which have not arisen before in the past.
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It provides an integratedapproach for the organization and aids inmeeting the challenges posed by environment 6. However, both are different and should not be usedinterchangeably. Strategycannot be delegated downward because it may requirelast minute decisions. Strategies and polices both are the means towards theend.
In other words, both are directed towards meetingorganizational objectives.
Strategy is a rule for makingdecision while policy is contingent decision The goal of tactics is toachieve success in a given action and this forms one part of agroup of related military action. The authority is not delegated below thelevels than those which possess the perspective required fortaking decisions effectively. The decisions are taken on the basis of opportunities, newideas etc.
Chapter 1: Introduction to strategic management accounting
Tactics is determined on a periodic basis by variousorganizations. A fixed time table may be made for following tactics. Thus, the time horizon in terms of strategy isflexible but in case of tactics, it is short run and definite.
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In contrast tacticaldecisions are more certain as they work upon the framework set bythe strategy. So the evaluation of strategy is difficult than theevaluation of tactics. Tactics use information availableinternally in an organization. On the other hand tactics are of lessimportance because they are concerned with specific part ofthe organization. This does notmean that one person is the originator of all the ideasunderlying the resulting strategy or does all thebackground data gathering and analysis: there may bemuch brainstorming with subordinates andconsiderable analysis by specific departments.
Strategy teams often include line andstaff managers from different disciplines anddepartmental units, a few handpicked juniorstaffers known for their ability to thinkcreatively, and near-retirement veterans notedfor being keen observers, telling it like it is, andgiving sage advice.