Order 1223654: Management Report

Order 1223654: Management Report

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Management

Number of pages

3

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APA

Number of cited resources

2

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Assignment

Prepare a report and contribute to a discussion that demonstrates mastery of the course material and its relevance to your academic specialization.

prepare a brief (maximum 500 – 750 word) report that examines whether, how, and why strategic management is/could/should be relevant and important for a Financial Management degree.

 

Course Reading Material

Barnat, R. (n.d.). Strategic goals and objectives. In Strategic management: formulation and implementation. Retrieved from http://www.strategy-formulation.24xls.com/en210

Barnat, R. (n.d.). Tests of a winning strategy. In Strategic management: formulation and implementation. Retrieved from http://www.strategy-formulation.24xls.com/en317

Defining strategic management and strategy. (2012). In Mastering strategic management. Washington, DC: Saylor Academy. Retrieved from https://saylordotorg.github.io/text_mastering-strategic-management/s05-01-defining-strategic-management-.html    

Understanding the strategic management process. (2012). In Mastering strategic management. Washington, DC: Saylor Academy. Retrieved from https://saylordotorg.github.io/text_mastering-strategic-management/s05-04-understanding-the-strategic-ma.html

Vision, mission, and goals. (2012). In Mastering strategic management. Washington, DC: Saylor Academy. Retrieved from https://saylordotorg.github.io/text_mastering-strategic-management/s06-01-vision-mission-and-goals.html

Watkins, M. D. (2007, September 7). Demystifying strategy: the what, who, how, and why. Harvard Business Review. Retrieved from https://hbr.org/2007/09/demystifying-strategy-the-what/

What is Strategy? 

According to Watkins (2007), business strategy is “a set of guiding principles that, when communicated and adopted in the organization, generates a desired pattern of decision making. A strategy is therefore about how people throughout the organization should make decisions and allocate resources in order accomplish key objectives.” BusinessDictionary.com (n.d.) defines strategic management as “The systematic analysis of the factors associated with customers and competitors (the external environment) and the organization itself (the internal environment) to provide the basis for maintaining optimum management practices. The objective of strategic management is to achieve better alignment of corporate policies and strategic priorities.” These two definitions give insight into the topics we’ll be studying this semester.

References

7 advantages of sustainable competitive advantage. (4 April, 2013). Retrieved from https://business.simplicable.com/business/new/7-examples-of-sustainable-competitive-advantage

Barnat, R. (n.d.). Strategic goals and objectives. In Strategic management: formulation and implementation. Retrieved from http://www.strategy-formulation.24xls.com/en210

Barnat, R. (n.d.). Tests of a winning strategy. In Strategic management: formulation and implementation. Retrieved from http://www.strategy-formulation.24xls.com/en317

Business model. (n.d.). Investopedia. Retrieved from http://www.investopedia.com/terms/b/businessmodel.asp?layout=infini&v=5F&adtest=5F&ato=0

Competitive advantage. (26 May 2016). In Boundless economics. Retrieved from https://www.boundless.com/business/textbooks/boundless-business-textbook/international-business-4/the-drive-for-international-trade-37/competitive-advantage-187-7917/

Competitive advantage vs. sustainable competitive advantage. (25 May, 2013). Retrieved from https://business.simplicable.com/business/new/competitive-advantage-vs-sustainable-competitive-advantage

Defining strategic management and strategy. (2012). In Mastering strategic management. Washington, DC: Saylor Academy. Retrieved from https://saylordotorg.github.io/text_mastering-strategic-management/s05-01-defining-strategic-management-.html

Definition of perfect competition. (26 May 2016). In Boundless economics. Retrieved from https://courses.lumenlearning.com/boundless-economics/chapter/perfect-competition/

Strategic management. (n.d.). BusinessDictionary.com. Retrieved from http://www.businessdictionary.com/definition/strategic-management.html

Understanding the strategic management process. (2012). In Mastering strategic management. Washington, DC: Saylor Academy. Retrieved from https://saylordotorg.github.io/text_mastering-strategic-management/s05-04-understanding-the-strategic-ma.html

Vision, mission, and goals. (2012). In Mastering strategic management. Washington, DC: Saylor Academy. Retrieved from https://saylordotorg.github.io/text_mastering-strategic-management/s06-01-vision-mission-and-goals.html

Watkins, M. D. (2007, September 7). Demystifying strategy: the what, who, how, and why. Harvard Business Review. Retrieved from https://hbr.org/2007/09/demystifying-strategy-the-what/

Videos from the UMUC library:

lation and implementation. Retrieved from http://www.strategy-formulation.24xls.com/en317

Bradley, S. P. (2005). Capturing the value: competitive strategies that work. [Video]. Harvard Business School Faculty Seminar Series.

Narayandas, D. (2005). Managing markets, segments, and customers. [Video]. Harvard Business School Faculty Seminar Series.

Rivkin, J. W. (2005). Where do great strategies come from? [Video]. Harvard Business School Faculty Seminar Series.