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PART 1
Overview of Strategic Management

CHAPTER 1

The Nature of Strategic

Management

CHAPTER OBJECTIVES

After studying this chapter, you should be able to do the following:

1. Describe the strategic-management 5. Describe the benefits of good
process. strategic management.
2. Explain the need for integrating 6. Discuss the relevance of Sun Tzu’s The
analysis and intuition in strategic Art of War to strategic management.
management.
7. Discuss how a firm may achieve
3. Define and give examples of key terms sustained competitive advantage.
in strategic management.
4. Discuss the nature of strategy
formulation, implementation, and
evaluation activities.

Assurance of Assurance of Assurance of Assurance of
Learning Exercise 1A Learning Exercise 1B Learning Exercise 1C Learning Exercise 1D
Gathering Strategy Strategic Planning for My Strategic Planning at a Getting Familiar with SMCO
Information University Local Company