Section 4
Creating Strategy: Common Approaches
Book
Version 10
By Boundless
By Boundless
Boundless Management
Management
by Boundless
4 concepts
Strategic Management
Strategic management entails five steps: analysis, formation, goal setting, structure, and feedback.
Combining Internal and External Analyses
Using combined external and internal analyses, companies are able to generate strategies in pursuit of competitive advantage.
Implementing Strategy
Strategic planning involves managing the implementation process, which translates plans into action.
Maintaining Control
Controlling requires taking an aerial view of operational processes, identifying gaps and weaknesses to improve efficiency.