STR/581 Strategic Planning and Implementation WK 1 Discussion Question

STR/581 Strategic Planning and Implementation WK 1 Discussion Question

Describe the work of strategic leaders.

Define stakeholders and describe their ability to influence organizations.

Explain the strategic management process.

Define strategic competitiveness, strategy, competitive advantage, and above-average returns.

Use the resource-based model to explain how firms can earn above-average returns.

Describe the competitive landscape and explain how globalization and technological changes shape it.

Use the industrial organization (I/O) model to explain how firms can earn above-average returns.

Explain why ownership is largely separated from managerial control in organizations.

Describe how the external corporate governance mechanism–the market for corporate control–restrains top-level managers’ decisions.

Define an agency relationship and managerial opportunism and describe their strategic implications.

Solution Preview

Strategic planning and implementation
Question one
A strategic leader measures the available positions and options of the company, carefully to promote growth by taking action. He/she influences others to make decisions voluntarily to enhance success over an along period maintaining financial stability. He/she employs different approaches to make an impact on the growth and success of an organization. Skills and tools are required to implement and formulate a strategy successfully. Managing change is needed by strategic leaders to give a sense of direction and also build alignment and ownership to achieve change.

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