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What is the process setting the Company direction with Business Strategy?
What is the Key Advantage or Disadvantage of Strategic Thinking?
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- What are the strategic planning time frames? How do they work together?What are the differences between "incremental" and "revolutionary" strategies, as well as "intended" and "actual" strategies? Do you think one is more valuable than the other? If so, why? Have you considered what the barriers to strategic planning are? What might those challenges be in your sphere? How can an organization overcome barriers to strategic planning?What are the main characteristics of strategic decisions?
- How important is it to change, and what criteria determine the changes in a strategic management plan?What is a strategic decision and what are its three characteristics? Define each of them.What are the potential risks and uncertainties that may arise during the implementation of a strategic plan, and how can managers plan for and mitigate these risks?
- What are the best practices for creating and implementing effective strategic plans, and how can they be aligned with organizational goals and objectives?Review the material on the history of strategic management from Business Strategy: The Art, Science, and Craft of Decision-Making and the selections from Chapter Four in Principles of Management Then, go to the Discussion Forum for Unit 1 and engage in a dialogue with your classmates by answering the following questions: How has modern strategic planning changed since the 1970s? In what ways has strategic planning stayed the same since the 1970s? How do firms use mission and vision statements within a modern organization? Research the vision and mission statement of an organization you’re familiar with and share it with the class How might you improve on the statements?What are the most important factors to consider when developing and implementing a strategic plan for an organization, and how can these factors be balanced against each other?