The Art, Science, and Craft of Decision-Making

Consider this high-level introduction to Strategic Management and its applications. Outline or take notes as you read, and pay attention to the key points identified in each section. Consider the three-legged stool explanation 5 minutes into the Kryscynski video you just viewed, especially the summary. How do the three legs compare with this book's three main processes of strategic business management?

Business Plans

Organizational Background

In a written plan information may appear in a separate section, an appendix, or may be omitted all together depending on the nature of the plan. If the plan is directed at people outside of the company, a brief synopsis may appear in the executive summary. This will be supplemented with a more detailed discussion elsewhere in the plan.


Mission Statement and business model

To create a quality, online learning experience for students through an interactive learning environment. - As an example.

For a commercial organization, the business model sums up also how the business or project will satisfy customers and bring profitability


Current Status

  • Number of Employees
  • Annual sales figures
  • Key product lines
  • Location of facilities
  • Current stage of development (start-ups)
  • Corporate structure (options are):
    • Sole proprietors
    • Partnership
    • Joint Venture
    • Publicly traded corporation
    • Corporation|Private corporation
    • Limited liability company
    • Public utility
    • Non-profit organization
  • Names of the majority investor, if any

History

  • Founding date
  • Major successes
  • Strategically valuable learning experiences

Management Team

  • Board members
  • Owners
  • Senior managers
  • Managing partners
  • Head scientists and researchers