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Unit 1: Introduction to Strategic Management

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Introduction to Strategic Management

Management Policy and Strategy

Name

Institutional Affiliation

Strategic management refers to the process of examining the key initiatives used by the top management of a company and with relation to the utilization of resources and competitiveness in the external environment. According to Pearce & Robinson (2013), strategic management is a three-tier process involving corporate, business, and functional-level planners. The corporate level mainly comprise of board of directors, administrative officers, and chief executive. The corporate level is mainly concerned with ensuring the organization achieves its financial goals as well as nonfinancial objectives such as improving corporate image or customer loyalty. The business level comprise of corporate managers and business managers. It is the middle level of the corporate decision-making structure. The major aim of corporate and business managers is to implement the wishes of corporate level planners into actions. The functional level is the lowest level of the structure, comprising of product managers, functional managers, and division managers. The main aim is to formulate short-term strategies and annual objectives.

It is crucial for an organization such as Southwest Airlines to have future oriented plan. Future oriented plans enable managers to develop projections that enable an organization adopt…………………………….

 

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Assignment Grading Rubric
Course: MT460 Unit: 1 Points: 45
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Unit 1: Introduction to Strategic Management

The nature and value of strategic management is to achieve the desired results and outcome due to careful research
(environmental scanning), planning and development of a company’s strategy as well as the implementation and
maintenance of it (Pearce & Robinson, 2013, p. 3).
For this week’s Assignment, you will complete a short answer on the following question:
● Why is strategy important to business?
● You will want to address the main components of the (three-tier process) of the strategic management process
while discussing the importance of strategy for business.
Be sure to use your reading this week as a resource. You are encouraged also to use the Library databases and the
Internet as additional resources.
For additional details on this Assignment view the Rubric below.
Reference:
Pearce, J. A., & Robinson, R. B. (2013). Strategic management: Planning for domestic & global competition. (13th ed.).
New York, NY: McGraw-Hill.
ID: MT460-02-08-A
Assignment Checklist:
● Explain the concept of the strategic management (three-tier) process.
● Discuss the importance of having a future oriented plan.
● Discuss the organization’s vision, mission, purpose, philosophy or goal.
● Discuss the strategic process as input for future decision making.
Format
Your project should be double-spaced, citations should use APA style, and it should be 2-3 written pages in length, not including the
formal title page and references page.
For assistance with current APA format and citation style visit the Kaplan Writing Center.
Directions for Submitting Your Assignment
• Before you submit your Assignment, you should save your work on your computer in a location and with a name that you will
remember.
• Ensure your Assignment is in a Microsoft Office-compatible format (Word .doc or .docx).
Submit your completed document to the Unit 1 Assignment Dropbox.
Need help with the Dropbox? Click on the Dropbox Guide link under Academic Tools tab.
MT460 Unit 1 Assignment Grading Rubric
Maximum
Percent Criteria Maximum
Points
50%
Content is accurate and complete:
Explain the concept of the strategic
management (three-tier) process.
6
Discuss the importance of having a
future oriented plan. 6
Discuss the organization’s vision,
mission, purpose, philosophy, or goals. 5
Discuss the strategic process as input for
future decision making. 5
30%
Analysis and Critical Thinking:
Address the main components of the
strategic management (three-tier)
process.
7
Discuss the importance of strategy for
business. 7
15% Writing, Spelling, and Grammar 7
5% APA Format and Citation Style 2
100% Total 45

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