According to Peter Drucker, developing a clear business vision and mission is the first
responsibility of strategists.
Political forecasts can be the most important part of an external audit for firms that
depend heavily on government contracts.
The Balanced Scorecard approach deals with the question, “How satisfied are the firm’s
customers?”
Walgreens and CVS pharmacies are located generally across the street from each other
and battle each other every day on price and customer service.
Research shows strategic management in small firms is more formal than in large firms.
Unlike the U.S., Japan has no law against discrimination based on age.
A functional structure can be effective at eliminating short-term and narrow thinking.
A cost leadership strategy can be especially effective when most buyers use the product
in the same ways.
Objectives should be measurable, challenging, reasonable, consistent, and clear.
According to the Grand Strategy Matrix, Quadrant III organizations compete in
rapid-growth industries and have weak competitive positions.