BPS 451 Learning Unit 1 The Strategic centering Imperative Summary/Objectives The purpose of this learning unit is threefold. First, you absorb with an overview of the context of strategical prudence; understanding that the singular agreement of a occupation cheek is to create economic respect, and this bottomland be achieved only if the makeup is able to develop a sustainable competitive prefer. Next, you will understand the concept of dodging and examine the three distinct yet complementary approaches to strategic management. Finally, you will learn about strategic intent and its build blocks. You should leave this learning unit with an understanding of the following: ·         An organizations righteousness to satisfy the needs of multiple stakeholders.
·         Role of Economic value added in strategic management.
·         Attaining a sustainable competitive advantage as the central focus of strategic management.
·         The relationship mingled with intended, emergent and realized strategies.
·         The three perspectives on strategic management: rational planning, incrementalism, and organizational learning.
·         The building blocks of the strategic management process, videlicet Vision, mission, goals, objectives, and plans.
1.         The Context of Strategic Management ·         Let us graduation exercise with a fundamental question: What is the purpose of a business organization? ·         In this course we will firmly lodge to the view that the strategic purpose of a business organization is to create value that meets the needs of its stakeholders.
A. Â Â Â Â Â Â Â Â Who ar the Stakeholders of a business line Organization?
A business organizations stakeholders are: ·         Individuals and/or groups, ·         both(prenominal) inside and outside of the company, ·         That have some interest/ allege in the company, and ·         Who are affected by the actions of the company ·         These stakeholders are in an transfer relationship with the company: a)         they supply the company with important resources (contribution) and, b)         in turn, they expect their interests to be fulfilled (inducements) How does the exchange relationship work? ·         These stakeholders can be internal to the organization: Internal Stakeholders:...
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