Convenience



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Fundamentals-of-Management-8th-Edition-Ricky-Griffin-978-1285849041

References:
“GM CEO: ‘Good Enough’ Isn’t,”
USA Today
,
August 5, 2013, p. 1B;
Hoover’s Handbook of American Busi-
ness 2013
(Austin: Mergent, 2013), pp. 381–383; “Mary Barra
Named GM CEO, Automaker’s First Female Chief,”
Forbes
,
December 10, 2013, pp. 23–24; “GM CEO Mary Barra
Admired by Fellow Auto Executives, Competitors,” http://
www.mlive.com/auto/, accessed on February 16, 2014.
operational plan
A plan that focuses
on carrying out
tactical plans to
achieve operational
goals
70
Part 2:
Planning
Copyright 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).
Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
www.MyEbookNiche.eCrater.com


THE NATURE OF STRATEGIC MANAGEMENT
A
strategy
is a comprehensive plan for accomplishing an organization’s goals.
Strategic
management
, in turn, is a way of approaching business opportunities and challenges—it
is a comprehensive and ongoing management process aimed at formulating and imple-
menting effective strategies. Finally,
effective strategies
are those that promote a superior
alignment between the organization and its environment and the achievement of strate-
gic goals.
11
The Components of Strategy
In general, a well-conceived strategy addresses three areas: distinctive competence,
scope, and resource deployment. A

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