After studying this chapter, you should be able to:
Identify the three main steps of the planning process and explain the relationship between planning and strategy.
Describe some techniques managers can use to improve the planning process so that they can better predict the future and mobilize organizational resources to meet future contingencies.
Differentiate between the main types of business-level strategies and explain how they give an organization a competitive advantage that may lead to superior performance.
Differentiate between the main types of corporate-level strategies and explain how they are used to strengthen a company's business-level strategy and competitive advantage.
Describe the vital role managers play in implementing strategies to achieve an organization's mission and goals.