 Strategic Management: Strategic Managment Gregory G. Dess,
University of Texas at Dallas
G.T. Lumpkin,
University of Illinois--Chicago
Strategic Management: Creating Competitive Advantages
Summary Review Questions| 1. How is "strategic management" defined in the text and what are its five key attributes?
2. Briefly discuss the three key activities in the strategic management process. Why is it important for managers to recognize the interdependent nature of these activities?
3. Explain the concept of "stakeholder management"? Why shouldn’t managers be solely interested in stockholder management, that is, maximizing the returns for owners of the firm—its shareholders?
4. How can "symbiosis" (interdependence, mutual benefit) be achieved among a firm’s stakeholders?
5. What are some of the major trends that now require firms to have a greater strategic management perspective and empowerment in the strategic management process throughout the firm?
6. What is meant by a "hierarchy of goals"? What are the main components of it and why must consistency be achieved among them?
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