Internet purchasing beyond traditional boundaries

Knowledge key asset -- source of competitive advantage

Set of managerial decisions and actions that determines the long-run performance of a firm

Basic financial planning

Forecast based planing

Externally oriented planning

Strategic management

Clearer sense of strategic vision

Sharper focus on strategic importance

Improved understanding of changing environment

Environmental scanning

Strategy formulation

Strategy implementation

Evaluation & control

Monitoring, evaluation, and disseminating information from external and internal environments to key people in the firm

Strength — Weakness
Opportunities — Threats

Development of long-range plans for effective management of opportunities and threats in light of corporate strengths and weaknesses

Purpose/reason for organization

Promotes shared expectations Communicates public image Who we are; what we do; what we aspire to

Demands long-term commitment to development of critical resources & Demands firm become a learning organization

An organization skilled at creating, acquiring, and transferring knowledge and modifying its behavior to reflect new knowledge and insights

Type of strategy