Managing strategically
Learning outcomes
After studying this chapter and finishing the activities, you should be able to:
- explain the nature of strategic management and provide examples from industry to illustrate your understanding of the concepts;
- list and explain the major components of the strategic management process;
- demonstrate an understanding of a mission statement and its purpose;
- explain the difference between a goal and an objective;
- write a set of goals and objectives;
- identify and explain different strategies available to an organisation;
- outline what is involved in strategy implementation and explain its importance; and
- explain how evaluation and control is linked to formulation of the strategic plan.