Business strategy, business profile, and professional portfolio [case study: 2Gorjis Integrated Health and Wellness]
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Authors
Anderson, Halimah
Issue Date
2010
Type
Capstone
Language
en
Keywords
Business administration
Alternative Title
Abstract
This paper provides an overview and analysis of the concept and process of strategic management. Strategic management is discussed within the framework of Mintzberg, Ahistrand & Lampel's (1998) framework often schools of strategic management grouped into the three categories of prescriptive (design, planning, positioning schools), descriptive (entrepreneurial, cognitive, learning, power, culture, and environment) and "configuration" (a single school combining elements of both the prescriptive and the descriptive approaches). The paper is divided into three main sections. The first section provides definitions of seven key concepts in strategic management. The second section discusses how strategic management creates informed decisive and consistent decision making; draws upon concepts and tools related to the value chain; shapes an organization's value web; and enables competitive advantage. The third and final section provides an outline of the leadership qualities and managerial knowledge and skills needed to successfully act strategically to enable an organization to be sustainable and develop appropriate alternative practices; identify and respond to shifting market needs; and be agile and adaptive.