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Business Strategy
Arthur Guinoiseau V5

Arthur Guinoiseau V5 I. On The Basics

Final Exam

a. Strategic Management, evolution and destination.

Strategic Management, what is this? It is that set of managerial decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning, strategy formulation and implementation, and evolution and control. The study of Strategic Management helps us to monitoring and evaluating the opportunities and threats of a company’s strengths and weaknesses.

Organizations that implement strategic management are generally outperforming those that are not. The fact that a company changes its strategy, in other words the fact that a company manage itself strategically bring three major benefits: -­‐ -­‐ -­‐ A clearer sense of strategic vision for the company A sharper focus on what is strategically important An improved understanding of a rapidly changing environment.

Nowadays globalization and electronic commerce are the main factors that made organizations having to think strategically. Indeed, companies do not still deal with national competitors, but with international brands and organizations.

Strategic management as an evolution and a destination? The answer is obviously YES. Because the world is going faster and faster companies have to follow this changes; never mind, companies have not to be reactive, but they absolutely must be proactive. This mean

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Arthur Guinoiseau V5

Final Exam

Dr. Sean D. Jasso

that defining the market instead of being defined by it is the solution; and strategic management is the tool that allow organization to look and think forward.

Scanning the environment, formulating a strategy and implementing it, evaluating and controlling are the main steps that make a company

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