OBM-4 summary TP3 MANAGEMENT ROBBINS&COULTER Chapter8. strategic c atomic chassis 18: Strategic circumspection is what managers do to develop an organizations strategies. These strategies be the plans for how the organization depart do whatever its in business to do, how it provide compete success amplyy, and how it will attract and get together its customers in order to achieve its goals. A business posture is how a companionship is going to make money. Strategic circumspection is essential for three reasons:-It makes a difference in how healthful organizations forge -Its important helping managers cope with continually ever-changing situations -Strategic management coordinates and focus employee efforts on whats important. The strategic management process: This process contains of 6 steps: 1. Identify the in style(p) mission, goals, strategies 2. Do an external epitome 3. Do an internal analysis 4. Formulate strategies 5. dev our the strategies 6. Evaluate the strategies Step 2 and 3 are collectively known as SWOT analysis. The strengths of both activity of a caller does well or unequaled resources that it has. Weaknesses are activities the telephoner doesnt do well or resources it needs yet doesnt have. Opportunities are positive trends in the external environment. Threats are negative trends.
Corporate strategies: With a process strategy, an organization expands the number of markets served or products offered, either through veritable or rude(a) businesses. The type of growth strategies include concentration, vert ical desegregation ( returning(prenominal) ! and forward), crosswise integration, and diversification (related and unrelated). Concentration: a company focuses on its uncomplicated line of business and increases the number of products offered or markets served in that primordial business Vertical integration (backward and forward): In backward integration the company becomes its own supplier-> control of own input. in the lead integration the company becomes its own...If you want to get a full essay, order it on our website: OrderCustomPaper.com
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