Description

Learning Objectives
After reading this chapter, you will be able to understand:
• Guidelines-based rules or strategy.
• Difference between corporate strategy, business strategy, and functional strategy.
• Difference between strategy and policy.
• Vision, mission, value, goal, and objective of an organization.
• The 7S framework of corporate strategy.
• Strategic management process.
• 5P formulation of strategy management.
• Strategic business unit (SBU) and its functional strategy.
1.1 Introduction