STRATEGIC MANAGEMENT - CHAPTER 3 (PART 1)

Who is the author of "The Art of War"?

• Sun Tzu

• Albert Einstein

• Socrates

The 5P's for Strategy was made by

• Sun Tzu

• Albert Einstein

• Socrates

• Henry Mintzberg

Viewing strategy as ______ draws military thinking

• "The Art of War"

• Strategic

• Strategic Management

• Tactic

As in the military arena, so in

business: organizations attempt to

outmaneuver rivals

• TRUE

• FALSE

Strategic management strategies help businesses to

find direction and grow through a process of assessment,

evaluation, and then development which can help to

identify new business goals, set appropriate and achievable

objectives, and help businesses to regain a competitive edge.

• Importance of Strategic Management

• Value of Strategic Management

• Purpose of Strategic management

• Elements of Strategy

sometimes called factors of

production

• Resources

• Human Resources

• Financial Resources

• Physical (tangible) Resources

are those inputs that

are essential to the normal

functioning of the organizational

process.

• Resources

• Human Resources

• Financial Resources

• Physical (tangible) Resources

These are the

funds a business has available to invest

in operations, expansion, marketing,

and improvements.

• Intellectual (intangible) Resources

• Human Resources

• Financial Resources

• Physical (tangible) Resources

This refers to the workforce and talent within the organization, from front-line staff to

management.

• Intellectual (intangible) Resources

• Human Resources

• Financial Resources

• Physical (tangible) Resources

These are the tangible assets a company uses to provide services.

• Intellectual (intangible) Resources

• Human Resources

• Financial Resources

• Physical (tangible) Resources