Management Chapter 3

• The Strategy Cycle:

  1. vision and mission
  2. Strategic analysis
  3. develop objectives
  4. Create and choose strategies
  5. implement strategies
  6. Measure and evaluate performance
• Levels of strategies:

  1. Corporate-level strategies
  2. Business-level strategies
  3. Market-level strategies
• Smart framework:

  Specific

  Measurable

  Achievable

  Relevant

  Time-Bound
• The Planning cycle:

  Set goals

  Design plan

  Implement plan

  Review results
• Scale levels of planning:

  1. Strategic planning
  2. Tactical planning
  3. Operational planning