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PART ONE Introduction to Strategic Management and Business Policy 1 CHAPTER1 Basic Concepts of Strategic Management 2 1.1 The Study of Strategic Management 5 Phases of Strategic Management 5 Benefits of Strategic Management 6 1.2 Globalization and Environmental Sustainability: Challenges to Strategic Management 7 Impact of Globalization 8

The Strategic Management Process 15 Developing a Strategic Vision: Stage 1 of the Strategic Management Process: 17 How a Strategic Vision Differs from a Mission Statement 19 The Importance of Communicating the Strategic Vision 22 The Benefits of an Effective Strategic Vision 22 Setting Objectives: Stage 2 of the Strategic Management Process 22 xxiv

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Explain the need for integrating analysis and intuition in strategic management. 1-4. Define and give examples of key terms in strategic management. 1-5. Describe the benefits of engaging in strategic management. 1-6. Explain why some firms do not engage in strategic planning. 1-7. Describe the pitfalls in doing strategic planning. 1-8.

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strategic planning and have them master the mechanics of strategic planning for their school or educational organization. Course Objectives: To define strategic planning and determine the rationale for developing strategic plans To identify the key steps in strategic planning To manage the strategic planning process

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