Chapter 1 : Introducing the Concepts. Strategy Management in Action By: Mary Coulter Team 1 MGT 4380 – 003 Patrick Morales, William Turner, Becky Alvarado, Christopher Mathis, Jared Stowe. Chapter 1 Contents. 1.1 – Why strategic management is important
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Strategy Management in Action
By: Mary Coulter
MGT 4380 – 003
Patrick Morales, William Turner, Becky Alvarado, Christopher Mathis, Jared Stowe
1.1 – Why strategic management is important
1.2 – What strategic management is
1.3 – Who’s involved with strategic management
1.4 – Three important factors impacting strategic management today
1. Allows you to be effective in your position and have your work valued and recognized
2. Strategic management makes a difference in how well an organization performs
- The bottom line, profits, etc.
3. Organizations face continually changing situations both externally and internally.
4. The various divisions, departments, and work activities of the company need to be coordinated and focused on achieving the organization’s goals.
- Understanding the process and planning is critical to success