definitions about strategic management and business policy from various authors
Question
definitions about strategic management and business policy from various authors
Solution
Strategic Management:
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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."
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According to Peter Drucker, "Strategic management is concerned with deciding on strategy and planning how that strategy is to be put into effect."
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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:
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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."
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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."
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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."
Similar Questions
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