Eⅴ olution of Strategy 1950s Budgeting 1960s Long range planning 1970s Strategy planning 1980s Strategic management 1990s Strategic innovation 2000s Strategic flexibility Dr. Jerry L. Huxell
Dr. Jerry L. Huxell Evolution of Strategy • 1950s Budgeting • 1960s Long range planning • 1970s Strategy planning • 1980s Strategic management • 1990s Strategic innovation • 2000s Strategic flexibility
Strategy Strategy is the direction and scope of an organization over the long term which achieves advantages for the organization through its configuration of resources n a changing environment and to fulfill stakeholder expectations Dr. Jerry L. Huxell
Dr. Jerry L. Huxell Strategy • Strategy is the direction and scope of an organization over the long term which achieves advantages for the organization through its configuration of resources within a changing environment and to fulfill stakeholder expectations
Strategy Strategy is the pattern of major objectives, purposes or goals and essential policies or plans for achieving those goals, stated in such a way as to define what business the company is in or is to be in and the kind of company it is or is to be >Lynch Dr. Jerry L. Huxell
Dr. Jerry L. Huxell Strategy • Strategy is the pattern of major objectives, purposes or goals and essential policies or plans for achieving those goals, stated in such a way as to define what business the company is in or is to be in and the kind of company it is or is to be. »Lynch
Characteristics of Strategic Decisions Long-term direction Advantage over the competition Scope of an organization's activities Concerned with matching the firms resources and competencies to the environment Effects operational decisions affected by stakeholder expectations Dr. Jerry L. huxell
Dr. Jerry L. Huxell Characteristics of Strategic Decisions • Long-term direction • Advantage over the competition • Scope of an organization’s activities • Concerned with matching the firm’s resources and competencies to the environment • Effects operational decisions • Affected by stakeholder expectations
Strategic Decisions Complex in nature Made in situations of uncertainty Demand an integrated approach to managing May change external relationships ·Mav Ly involve diffie cult internal changes Dr. Jerry L. Huxell
Dr. Jerry L. Huxell Strategic Decisions • Complex in nature • Made in situations of uncertainty • Demand an integrated approach to managing • May change external relationships • May involve difficult internal changes