corporate strategy: an introduction (johnson, g. & scholes, k. 1993. exploring corporate...

Corporate Strategy: An Introduction (Johnson, G. & Scholes, K. 1993. Exploring corporate strategy: text and cases. Ed. ke-3. New York: Prentice Hall)

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Corporate Strategy: An Introduction

(Johnson, G. & Scholes, K. 1993. Exploring corporate strategy: text and cases. Ed. ke-3.

New York: Prentice Hall)

The Vocabulary of Strategy

TERM DEFINITION A PERSONAL EXAMPLE

Mission Overriding premise in line with the values or expectations of stakeholders

Be healthy and look good

Goal General statement of aim or purpose Lose weight

Objective Quantification (if possible) or more precise statement of the goal

Lose 10 pounds by 1 September

Strategies Broad categories or types of action to achieve objectives

Diet and exercise

Actions/

Tasks

Individual steps to implement strategies (perhaps related to operational issues or identified individuals)

Eliminate desserts/snacks/ butter… Swim every day

Control The monitoring of action steps to: reinforce objectives

Hopefully leading to: assess effectiveness of strategies and actions…and/or… modify strategies and/or actions as necessary

Weigh first thing every morning: if satisfactory progress, do nothing; if not, consider other strategies and actions

Rewards A payoff for reaching the objective Buy a new suit

Page 3: Corporate Strategy: An Introduction (Johnson, G. & Scholes, K. 1993. Exploring corporate strategy: text and cases. Ed. ke-3. New York: Prentice Hall)

A Basic Model of the Strategic Management Process

Strategic Analysis

Strategy Implementati

Strategic Choice

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