New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Honors Strategic Management Week 1 notes

by: ajtovar

Honors Strategic Management Week 1 notes MGMT 3013H

Marketplace > University of Arkansas > Management > MGMT 3013H > Honors Strategic Management Week 1 notes
GPA 4.0

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Honors Strategic Management Week 1 notes
Honors Strategic Management
Vikas Anand
Class Notes
honors, Strategic, Management, business
25 ?




Popular in Honors Strategic Management

Popular in Management

This 1 page Class Notes was uploaded by ajtovar on Sunday August 28, 2016. The Class Notes belongs to MGMT 3013H at University of Arkansas taught by Vikas Anand in Fall 2016. Since its upload, it has received 37 views. For similar materials see Honors Strategic Management in Management at University of Arkansas.

Similar to MGMT 3013H at UA

Popular in Management


Reviews for Honors Strategic Management Week 1 notes


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 08/28/16
Honors Strategic Management 1) What is Strategy? a) The set of decisions and actions of firm managers to ensure the future success of the firm i) Focuses on the future. Not concerned with just right now (1) What are things you do today that wont be relevant in 10 years? What things are you not doing now that will be relevant in 10 years? Must be future focused ii) Focuses on success which is generally measured through financial performance 2) Role of strategic manager a) Ensuring long term survival of firm b) Satisfying stakeholders c) By: i) Staking a position in the competitive landscape (1) Ex. Walmart has a competitive advantage with its low-cost strategy ii) Appropriate resource allocation iii) Risk-taking and risk management (1) The higher the risk, the higher the reward. Not taking risks makes you good at lower levels of a company, but as you move up you need to be able to take risks. iv) Contributing to a conductive org culture and norms (1) A strategy may lead to opposition which may lead to its failure. Must be able to overcome this. 3) Stakeholders a) Individuals/ entities who may be affected by or affect the firms outcomes i) Product market: customers/suppliers (1) Directly responsible for product ii) Capital market: shareholders/banks (1) Financially affected iii) Organizational: employees iv) Societal: gov, communities, etc


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Kyle Maynard Purdue

"When you're taking detailed notes and trying to help everyone else out in the class, it really helps you learn and understand the I made $280 on my first study guide!"

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.