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CU DENVER / Business Management / MGMT 4500 / What are the levels of strategy?

What are the levels of strategy?

What are the levels of strategy?

Description

School: University of Colorado Denver
Department: Business Management
Course: Business Policy-Strategic Management
Professor: Jeffrey nystrom
Term: Spring 2017
Tags: business, Management, and Strategic
Cost: 25
Name: Week 2 In-class Notes
Description: I detailed notes regarding important information that the professor stressed and hinted to being on the test. I provided both monday and wednesday's lecture notes.
Uploaded: 01/26/2017
2 Pages 329 Views 0 Unlocks
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The Strategic Management Process

  • Vary in creation and various processes

If you want to learn more check out What is the nationality of JJ Rosseau?

Process

 A flaw of information through interrelated stages of analysis toward the achievement of some goalWe also discuss several other topics like gsu fitness classes

Project notes:

  • Use big firm with a lot of information
  • Have to make or defend assumptions with unknowns

Ex. external environment (remote, industry, operating)

  • Use secondary sources, no need for primary
  • Not particular with formatting
  • Ex. (1.5) strategic management model
  • LT and ST objectives        ⎫ know
  • Generic strategies        ⎬ these terms
  • Policies                ⎪
  • Functional tactics        ⎭

 

  • Divide up work by specializing in specific chapters (ch.6 and 10 very intensive)

Don't forget about the age old question of gsu kinesiology

Levels of strategy

  1. Corporate level
  2. Business level
  3. Functional level

We also discuss several other topics like heather warren uva

Business level of strategy

  • Less costly, risky and potentially profitable than corporate level
  • More costly, risky and potentially profitable than function-level decisions

If you want to learn more check out What does the empirical rule describe?

Three modes of formality:

  1. Entrepreneurial mode - most small firms
  2. Planning mode - most large firms
  3. Adaptive firms - most medium sized firms

Don't forget about the age old question of What properties depend on the concentration of solute molecules or ions in solution but not the chemical identity of the solute particles?

Strategy makers

  • Input from all levels of firm is important
  • Top management gives final approval
  • Strategic decisions coincide with managers responsibilities

Overview of Strategic Management

What is a strategy?

  • About being different, not imitating others
  • Knowing how to create and utilize uniqueness

Michael Porter article (4-1) “how competitive forces shape strategy”

  • It is about a game plan

Dimensions of strategic decisions:

  • Top management are not the only ones able to see broad implications
  • There are many impacts long-term
  • Requires large amounts of resources
  • Substantial allocations of people, physical assets, and money
  • Commit firms to actions over an extended period

        ex. Marriage, going to school are both strategic decisions.

  • Strategic issues usually have multibusiness / multifunctional consequences

Open systems theory

All business are affected by external conditions that are largely beyond their control

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