1. Panera Bread uses a differentiation strategy. Of the generic competitive strategies discussed in the text‚ focused differentiation most closely fits the competitive approach that Panera Bread is taking. Panera Bread is trying to achieve a competitive advantage in product environment and great service. 2. What does a SWOT analysis of Panera Bread reveal about the overall attractiveness of its situation? Does the company have any core competencies or distinctive competencies? Strengths *
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Strategic Management in Action‚ 6e (Coulter) Chapter 1 Introducing the Concepts 1) Companies that use strategic management tend to have higher levels of performance. Answer: TRUE Diff: 2 Page Ref: 2 Topic: Explain Why Strategic Management Is Important AACSB: Reflective Thinking Objective: Define strategic management and identify its basic components 2) Strategy should be developed from a number of approaches rather than a single approach. Answer: TRUE Diff: 2 Page Ref:
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STRATEGIC MANAGEMENT PROCESS Strategy: A strategy is a plan of action designed to achieve a particular goal. Art & science of formulating‚ implementing‚ and evaluating‚ cross-functional decisions that enable an organization to achieve its objectives Some Examples • Geographic expansion • Diversification • Acquisition • Market penetration • Retrenchment • Liquidation • Joint venture Strategic Management: It includes: 1. Making Strategies (Decisions) 2. To work upon those strategies
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Strategic Management and Leadership Level 7 Strategic Management and Leadership Contents Page Qualification structures 3 Unit 7001 Personal development as a strategic manager 4 Unit 7002 Strategic performance management 5 Unit 7003 Financial management 6 Unit 7004 Strategic information management 7 Unit 7005 Conducting a strategic management project 8 Unit 7006 Organisational direction 9 Unit 7007 Financial planning 10
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Contents Page 1. Introduction……………………………………………………………4 2. Key definitions……………..…………………………………..……..5 3. Strategic Management Process Model………………………………...6 4. Conclusion……………………………………………………………10 5. Bibliography………………………………………………………….11 Introduction In the modern economy‚ competitiveness means information and know-how rather than capital and
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Global Strategic Management Executive Summary In the international competitive environment‚ the ability of an organization to develop a transnational organizational capability is the key factor that can help the firm adapt to the changes in the dynamic environment. As the fast rate of globalization renders the traditional ways of doing business irrelevant‚ it is vital for managers to have a global mindset to be effective. Globalization of business has led to the emergence of global strategic
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five strategic management process tools and their contribution to strategic management and strategic thinking. It has been argued that management needs the resources to create core competencies to develop a strategy that has sustainable competitive advantage (Marti‚ 2004‚ p1)‚ so the definition of a strategy as an ‘integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage’ fits this argument. The strategic management
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NEW PERSPECTIVES ON STRATEGIC MANAGEMENT PROCESS Pop Zenovia Cristiana‚ Borza Anca Department of Management‚ Faculty of Economics and Business Administration‚ “Babeş-Bolyai” University of Cluj-Napoca‚ Romania zenovia.pop@econ.ubbcluj.ro anca.borza@econ.ubbcluj.ro Abstract: For developing economies the development of enterprises should be a strategic goal‚ this way of thinking may become viable only as a result of a combination of judicious analysis based on specific local economic aspects
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Strategic Management: Planning Strategic management can be used to determine an organization ’s mission‚ vision‚ values‚ goals‚ objectives‚ roles and responsibilities‚ etc. Strategic planning is a management tool. As with any management tool‚ it is used to help an organization do a better job. It is used to focus its energy‚ to ensure that members of the organization are working toward common goals‚ to assess and fine-tune the organization ’s direction in response to change. Essentially‚ strategic
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Benefits of Strategic management Following are the benefits of s-m. Financial benefits: �� Improved productivity �� Improved sales �� Improved profitability Research indicates that organizations using strategic-management concepts are more profitable and successful than those that do not. Businesses using strategic-management concepts show significant improvement in sales‚ profitability‚ and productivity compared to firms without systematic planning activities. High-performing firms tend
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