How to evaluate non-physical resources?

Strategic Management_ Lecture 1  March 21, 2012 – 08:07 am
B. Physical Resources template. STANDARD EVALUATION SELF STUDY 2005 SELF

Strategic Management_Chapter 1  

Managers at all companies face three basic questions:

  • Where we are now?
  • Where do we want to go?
  • How will we get there?

Management Concept

In this course, we will

- Explore the meaning of organisational strategy and Investigate the processes by which strategy is formulated within the organisation.

- Defining Strategic Management.

- Five Tasks of Strategic Management

- Summarise the strength, weakness, opportunity, and threat related issue s and relate this to the issue of strategy through a self-assessment activity.

What is Business Strategy?

- Organization has a limited set of resources (e.g. time, people, money, physical resources) and they must decide how to use those resources.

- Example: You have the following resources:

  • $500, 000
  • A building
  • 10 employees
  • A patent on a new product A

Strategy is deciding

  • - what the organization is going to do
  • - how it will use its resources to capitalize on maximum benefits
  • - gain competitive advantage and
  • - fulfill objectives

Examples of Strategies

Source: iamshadman

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