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BUS800

Chapter One: The Concept of Strategy

TermDefinition
Strategy The means by which individuals or organizations achieve their objectives
Corporate Strategy The scope of the firm in terms of the industries and markets in which it competes.
Business Strategy Concerned with how the firm competes within a particular industry or market.
Intended Strategy Strategy as conceived of by the top management team.
Realized Strategy The actual strategy that is implemented.
Emergent Strategy the decisions that emerge from the complex processes in which individual managers interpret the intended strategy and adopt to changing external circumstances.
Strategic Management Associated with increasing focus on competition as the central characteristic of the business environment and competitive advantage as the primary goal of strategy.
Created by: 13rallie
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