The most effective strategic management is ritualistic, predictable and formal.
Perhaps the greatest advantage of international operations to a firm is the ability to gain
new customers for its products and services, thus increasing revenues.
Sustainability reports reveal how a firm’s operations impact the natural environment.
Some strategists agree with Ralph Nader, who asserts that organizations have no
obligation to do any more for society than is legally required.
In a turbulent, high-velocity market, a lead-change strategy is best whenever the firm
has the resources to pursue this approach.
The Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix, the Strategic
Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG)
Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix are included in
stage two of the strategy-formulation framework.
Avoidance, defusion, and confrontation are the classifications for the various types of
conflict that can arise in organizations.
Being long-term in nature, strategy implementation affects top and middle managers but
not lower-level employees.
Proponents of the resource-based view argue that external factors are more important
than internal factors for a firm in achieving and sustaining competitive advantage.
According to Albert Einstein, “Knowledge is far more important than intuition.”
Adequate and timely feedback is important to effective strategy evaluation.
For the strategic planning process to be effective, organizations must continually
strengthen the “good ethics is good business” policy.