Knowee
Questions
Features
Study Tools

definitions about strategic management and business policy from various authors

Question

definitions about strategic management and business policy from various authors

🧐 Not the exact question you are looking for?Go ask a question

Solution

Strategic Management:

  1. According to Fred R. David, "Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives."

  2. According to Peter Drucker, "Strategic management is concerned with deciding on strategy and planning how that strategy is to be put into effect."

  3. According to Michael Porter, "Strategic management is about understanding the strategic position of an organization, making strategic choices for the future and managing strategy in action."

Business Policy:

  1. According to Andrews, "Business policy is the study of the functions and responsibilities of senior management, the significant issues affecting organizational success and the decisions affecting organization in long-run."

  2. According to Christensen, Andrews & Bower, "Business policy is the study of the roles and responsibilities of top level management, the significant issues affecting organizational success and the decisions affecting organization in long-run."

  3. According to Glueck & Jauch, "Business policy is a unified, comprehensive, and integrative plan designed to assure that the basic objectives of the enterprise are achieved."

This problem has been solved

Similar Questions

Strategic management is best defined as the management of the short-term activities of a business. the management of the day-to-day activities of a business. the management of the long-term activities of a business. all of the above.

Nature & importance of business policy & strategy: Concept and levels of Strategy- corporate, business & functional level, process of strategic management. Company’s vision and mission: Strategic intent ,vision ,mission, objectives, criteria for evaluating a mission statemen

The primary focus of strategic management is*Strategic analysisNoneThe total organisationStrategy formulation

A. Define strategic goals

The process of strategic management is a/an one that changes as the organisational goals and objectives evolvea.Continuousb.Interestingc.Systematicd.Stable

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.