Strategic Planning in the Small Business

Unit 1

HO

1-5 (continued)

The

Strategic

Management

Process

"Cheshire

Puss." she IAlicel began

. woul you phase tell
me which way I

ought to go

from here?"

"Thai depends on

where ou $'antto get to.'

said the (-it.

Le%is Carroll

Ayjob is to inake sitc'

ihe company hal.%a strategy

and that everyhodyvfollow.%

it.

Kenneth

H. Ol,,en

CCO. Digital Equipment

Corp.

This

book is about the managerial

tasks of crafting and

implementing strategy.

An organization'v

strategy is delineated

in the pattern ofmoves

and approaches

devised

by management to produce

succe.ssful organization

performance. Strat­

egy. in effect,

is a managerial game plan

for running the organization.

Managers

develop strategies

to give order to how

an organization goes abcut

its business and

io

achieve target objectives.

Without a strategy.

there is no established

course to

follow, no roadmap

to manage by, no coherent

action plan for

producing the

intended results.

Strategy formulation

and implementation are

core management functions.

Among a:, the things

that managers do,

few affect organizational

performance

more lastingly

than how well

the management team han21es

the tasks of charting

the organization's long-term

direction, developing

strategic moves

and ap­

proaches,

and executing the strategy

in ways that produce

the intended results.

Indeed,'good

strategy and

good strategyimplementtation

are the most tristivorthy

signs of good

management.

Thomson, AA

and Strickland III, AJ. Strategic

Management. Concepts

and Cases. Chapter 1.

Fifth Edition; Copyright

0 IRWIN; Reptinted with permission

of the publisher. pp. 3-22.

78