Chapter 01 – Strategic Management
1-1
distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a webs ite, in
whole or part.
Questions for Discussion
1. Read an article in the business press about a major action taken by a corporation. Be prepared to
briefly describe this action to your professor and name the key strategic management terms that
the author used in the article.
handset business chief is making plans to strengthen Samsung’s position.
Students should be able to identify strategic management terms such as low cost strategy, focus,
well as by Samsung’s managers.
2. In what ways do you think the subject matter in this strategic management-business policy
course will differ from that of previous courses you have taken?
Chapter 01 – Strategic Management
1-2
distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a webs ite, in
whole or part.
The second difference is the level in the organization in which strategic decisions are made.
Usually strategic decisions are made at the highest organizational level. Particularly astute
3. After graduation, you are not likely to move directly to a top-level management position. In fact,
few members of your class will ever reach the top-management level. Why, then, is it important
for all business majors to study the field of strategic management?
The section titled “Benefits of Strategic Management” helps with this discussion. Key reasons
and understand that process.
4. Do you expect outstanding performance in this course to require a great deal of memorization?
Why or why not?
students analyze the problems that a company faces and suggest solutions for these problems.
5. You undoubtedly have read about individuals who seemingly have given single-handed direction
to their corporations. Is a participative strategic management approach likely to stifle or suppress
the contributions of such individuals?
may indeed feel stifled; however, in the long run, a participative style may result in several
6. Think about the courses you have taken in functional areas, such as marketing, finance,
production, personnel, and accounting. What is the importance of each of these areas to the
strategic planning process?
integrative product, functional areas help implement the strategy.
Chapter 01 – Strategic Management
1-3
distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a webs ite, in
whole or part.
7. Discuss with practicing business managers the strategic management models used in their firms.
What are the similarities and differences between these models and the one in the text?
8. In what ways do you believe the strategic planning approach of not-for-profit organizations
would differ from that of profit-oriented organizations?
steps would be different, however. The mission statement of a not-for-profit, for example, may
9. How do you explain the success of firms that do not use a formal strategic planning process?
Mintzberg’s discussion of the three modes – entrepreneurial, planning, and adaptive – can be
not have a formal strategic planning process.
10. Think about your post-graduation job search as a strategic decision. How would the strategic
management model be helpful to you in identifying and securing the most promising position?
The strategic management model (Exhibit 1.6) can be useful in job hunting. The candidate needs
job meets the candidate’s expectations.