Defining Strategic Management and Strategy
Completion requirements
The first step in considering developing a strategic plan is understanding its basic elements. It is important to know what strategy is and what it is not. These sections will provide a foundation for an understanding of business strategy. When you have completed these sections, you will be able to define strategy and explain how it is used in a business setting.
1.2 Defining Strategic Management and Strategy
Learning Objectives
- Learn what strategic management is.
- Understand the key question addressed by strategic management.
- Understand why it is valuable to consider different definitions of strategy.
- Learn what is meant by each of the 5 Ps of strategy.
Source: https://open.lib.umn.edu/strategicmanagement/chapter/1-2-defining-strategic-management-and-strategy/
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