Strategic Management.Pdf

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What is strategic management? The set of managerial decisions and actions that determines the long-run performance of an organisation. Strategic management Robbins, Bergman, Stagg, Coulter: Management 4e © 2006 Pearson Education Australia 4 Robbins, Bergman, Stagg, Coulter: Management 4e © 2006 Pearson Education Australia 5 Why strategic management is important 1. 2. The strategic management process It results in higher organisational performance. It requires that managers examine and adapt to business environment changes. It coordinates diverse organisational units, helping them focus on organisational goals. It is very much involved in the managerial decision-making process. 3. 4. Robbins, Bergman,…show more content…
Growth strategies Concentration Focusing on a primary line of business and increasing the number of products offered or markets served. Types of growth strategies Concentration Vertical integration Horizontal integration Diversification Vertical integration Backward vertical integration: attempting to gain control of inputs (become a self-supplier). Forward vertical integration: attempting to gain control of output through control of the distribution channel and/or provide customer service activities (eliminating intermediaries). Robbins, Bergman, Stagg, Coulter: Management 4e © 2006 Pearson Education Australia 16 Robbins, Bergman, Stagg, Coulter: Management 4e © 2006 Pearson Education Australia 17 Growth strategies (cont’d) Horizontal
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