Vamshi
Thompson−Strickland−Gamble: Crafting and Executing Strategy: Concepts and Cases, 16th Edition
I. Concepts and Techniques for Crafting and Executing Strategy
2. The Managerial Process of Crafting and Executing Strategy
© The McGraw−Hill Companies, 2008
chapter two
2
The Managerial Process of Crafting and Executing Strategy
Unless we change our direction we are likely to end up where we are headed.
—Ancient Chinese proverb
If we can know where we are and something about how we got there, we might see where we are trending—and if the outcomes which lie naturally in our course are unacceptable, to make timely change.
—Abraham Lincoln
If you don’t know where you are going, any road will take you there.
—The Koran
Management’s job is not to see the company as it is . . . but as it can become.
—John W. Teets Former CEO
Thompson−Strickland−Gamble: Crafting and Executing Strategy: Concepts and Cases, 16th Edition
I. Concepts and Techniques for Crafting and Executing Strategy
2. The Managerial Process of Crafting and Executing Strategy
© The McGraw−Hill Companies, 2008
making, strategy-executing process? And to what extent are company personnel—aside from top executives—involved in the process? In this chapter we present an overview of the managerial ins and outs of crafting and executing company strategies. Special attention will be given to management’s direction-setting responsibilities—charting a strategic course, setting performance targets, and choosing a strategy capable of producing the desired outcomes. We will also examine which kinds of strategic decisions are made at which levels of management and the roles and responsibilities of the company’s board of directors in the strategy-making, strategy-executing process.
C
rafting and executing strategy are the heart and soul of managing a business enterprise. But exactly what is involved in developing a strategy and executing it proficiently? What are the various
I. Concepts and Techniques for Crafting and Executing Strategy
2. The Managerial Process of Crafting and Executing Strategy
© The McGraw−Hill Companies, 2008
chapter two
2
The Managerial Process of Crafting and Executing Strategy
Unless we change our direction we are likely to end up where we are headed.
—Ancient Chinese proverb
If we can know where we are and something about how we got there, we might see where we are trending—and if the outcomes which lie naturally in our course are unacceptable, to make timely change.
—Abraham Lincoln
If you don’t know where you are going, any road will take you there.
—The Koran
Management’s job is not to see the company as it is . . . but as it can become.
—John W. Teets Former CEO
Thompson−Strickland−Gamble: Crafting and Executing Strategy: Concepts and Cases, 16th Edition
I. Concepts and Techniques for Crafting and Executing Strategy
2. The Managerial Process of Crafting and Executing Strategy
© The McGraw−Hill Companies, 2008
making, strategy-executing process? And to what extent are company personnel—aside from top executives—involved in the process? In this chapter we present an overview of the managerial ins and outs of crafting and executing company strategies. Special attention will be given to management’s direction-setting responsibilities—charting a strategic course, setting performance targets, and choosing a strategy capable of producing the desired outcomes. We will also examine which kinds of strategic decisions are made at which levels of management and the roles and responsibilities of the company’s board of directors in the strategy-making, strategy-executing process.
C
rafting and executing strategy are the heart and soul of managing a business enterprise. But exactly what is involved in developing a strategy and executing it proficiently? What are the various