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Strategic Management Concepts And Cases, 15th Global Edition Solution Manual

Strategic Management Concepts And Cases, 15th Global Edition Solution Manual simplifies dense textbook content into easily digestible explanations.

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Chapter 1-Strategic Management EssentialsOverviewChapter 1 introduces the basic terms in strategic management. This chapterpresents the comprehensive model for strategic planning that appears in each subsequentchapter and provides aunifying, logical flow for the entire textbook. This chapterdescribes the benefits of doing strategic planning, the drawbacks of not doing strategicplanning, and the pitfalls of doing strategic planning incorrectly.Learning Objectives:1.Discuss the nature and role of a chief strategy officer (CSO).2.Describe the strategic-management process.3.Explain the need for integrating analysis and intuition in strategic management.4.Define and give examples of key terms in strategic management.5.Discuss the nature of strategy formulation, implementation, and evaluation activities.6.Describe the benefits of good strategic management.7.Discuss the relevance of Sun Tzu’sThe Art of Warto strategic management.8.Discuss how a firm mayachieve sustained competitive advantage.Teaching Tips1. Spend about 40 minutes going over the comprehensive strategic management model inFigure 1-1, highlighting each component part with examples. This is the best way tocover the terms introduced in the chapter. Pull upthe new and improved author websitefor this textbook, because it has great resources for students. The URL iswww.strategyclub.com2. The Edward Deming quote mentioned in Chapter 1 (In God We Trust, All OthersBringthe Data) is vitally important in this course, because students tend to use vagueterms throughout their case analysis. Vagueness is detrimental to development of anystrategic plan. Therefore, highlight and emphasize the relevance and importance of theDeming quote and tell students that vagueness is disastrous in this course. Strategiesmust be formulated to the extent possible on factual, specific, underlying key internal andexternal factors, rather than trying to formulate strategies based on general statements,opinion, or intuition.3. Highlight Figure 1-2 on “the benefits of doing strategic planning.” Use that exhibit toemphasize the many benefits of doing strategic planning, as well as the drawbacks of notdoing strategic planning.

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